US Dollar Still Looking for Direction, SPX 500 at Risk of Losses
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.
- US Dollar Still Treading Water in a Familiar Range
- S&P 500 Chart Setup Warns of Deeper Losses Ahead
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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.