US Dollar Still Looking for Direction, SPX 500 at Risk of Losses

January 7, 2014

New York (Jan 7)  The US Dollar continues to search for direction, oscillating in a familiar range, while SPX 500 chart positioning warns of deeper losses ahead.

Talking Points:

  • US Dollar Still Treading Water in a Familiar Range
  • S&P 500 Chart Setup Warns of Deeper Losses Ahead

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

US DOLLAR TECHNICAL ANALYSIS – Prices rose as expected after putting in a bullish Piercing Line candlestick pattern. A break above range resistance at 10706 targets 10727, the December 19 high, followed by a rising channel top at 10750. Alternatively, a move below range support at 10646 exposes the channel bottom at 10631.

Forex_US_Dollar_Still_Looking_for_Direction_SPX_500_at_Risk_of_Losses_body_Picture_5.png, US Dollar Still Looking for Direction, SPX 500 at Risk of Losses

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