(MENAFN- DailyFX) DailyFX.com - r>
To receive Ilya's analysis directly via email please SIGN UP HERE
Talking Points:
-
US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
-
Support: 11102 10987 10918
-
Resistance:11216 11308 11400
The Dow Jones FXCM US Dollar Indexcontinued to push upward clearing October’s swing high to touch the strongest level in over four years. A daily close above the 38.2% Fibonacci expansion at 11216 exposes the 50% level at 11308. Alternatively a turn below the 11102-43 area marked by the October 3 high and the 23.6% Fib clears the way for a test of trend line support at 10987.
We remain broadly bullish on the US Dollar against its leading counterparts in line with ourlong-term fundamental outlook. As such we remain long via theMirror Trader US Dollar currency basket.
Daily Chart - Created Using FXCM Marketscope 2.0
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
--- Written by Ilya Spivak Currency Strategist for DailyFX.com
original source
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.