USDOLLAR Charts Potential Bullish Reference Candle
The below is the daily chart of the USDOLLAR. Wednesday’s candle looks to be a bullish reference candle (blue arrow). I.e. a candle with higher lows on either side of it. Moreover, yesterday’s candle closed above the high of Wednesday’s candle (green horizontal), giving weight to the bullish reference candle scenario. The RSI(9) has pushed above 50, which may be indicative of a positive underlying momentum (blue rectangle). If price appreciates from here, and to make significant headway, it needs to overcome the resistance area around the 12,275 level (red horizontal).
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.