USDOLLAR Underlying Support Holds

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the USDOLLAR. Further to our previous article, the underlying support level seems to be holding (red shaded horizontal). Yesterday’s candle was a dragonfly doji i.e. a day that ended with the bulls in control. As it was President’s Day and FX flows were likely affected, we would like to see bullish follow through today in support of yesterday’s candlestick. This would give weight to the bullish 1-2-3 pattern scenario.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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