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Forex: US Dollar Technical Analysis 01.31.2013

Ilya Spivak

US Dollar Technical Analysis- Prices turned lower as expected after putting in a Shooting Star candlestick below resistance marked by the 61.8% Fibonacci expansion (10181) and a rising channel top (10196). Sellers have now cleared the 50% level at 10153, exposing the 38.2% Fib at 10124. A further push beneath that aims for a rising trend line 10106. The 10153 mark has been recast as near-term resistance.

Forex_US_Dollar_Technical_Analysis_01.30.2013_body_Picture_1.png, Forex: US Dollar Technical Analysis 01.31.2013
Forex_US_Dollar_Technical_Analysis_01.30.2013_body_Picture_1.png, Forex: US Dollar Technical Analysis 01.31.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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