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DXY Index Firms Up, but Still Stuck in Range

From dailyfx.com

The US Dollar has stabilized ahead of the holiday, and that may be just about all the greenback will do. The steep drop on November 14 found the DXY Index trading between the October 26 bullish outside engulfing bar low and the July 26 baerish engulfing bar high. Since then, over the past week, price has yet to leave this newly-minted range; and given the liquidity drain expected over the coming days, it's not exactly the ideal conditions for a breakout. Despite holding support near 93.48, technical damage has been done to the US Dollar's rally from the September lows. Not only has the three-week range from October ... (full story)

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  • Category: Technical Analysis