US Dollar Recovery Threatens Trend-Defining Resistance Barrier

From dailyfx.com

The US Dollar has recovered to test the boundaries of its recent down trend with scope to issue a meaningful breakout to the upside in the days ahead. S&P 500 – Prices continue to consolidate between 1399.10 and 1409.00, the 61.8% and 76.4% Fibonacci retracement levels. A break higher exposes the late March to early April swing top in the 1419.90-1424.90 area. Alternatively, a push through near-term support targets the 50% Fib at 1391.20. CRUDE OIL – Prices put in a Harami candlestick pattern below resistance at a falling trend line set from late February, hinting a pullback may be ahead. ... (full story)