USD's potential short-term support

Russell Shor, CFTe, MFTA FXCM

The above chart shows the hourly timeframe. Key support may potentially be at the confluence of factors including the S1 pivot level, price congestion support (green rectangle), and the 50% Fibonacci retracement. The stochastic is oversold (green ellipse). A pullback in the USD may provide a “buy the dip in an uptrend” opportunity.

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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