US DOLLAR TECHNICAL ANALYSIS for August 1, 2014

US DOLLAR TECHNICAL ANALYSIS for August 1, 2014

1 August 2014, 12:03
Sergey Golubev
0
148
Prices broke above another layer of resistance after reversing upward as expected having put in Bullish Engulfing candle pattern. Near-term resistance is at 10560, which is 50% Fibonacci retracement. Daily close above that exposes 61.8% level at 10606. Alternatively, a turn back below the May 28 high at 10531 opens clears the way for test of 38.2% Fib at 10513.


Share it with friends: