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Talking Points
- Prices turned higher as expected after putting in a Bullish Engulfing candle pattern
- Closing above 10727 (Dec 20 high) exposes 10761 (38.2% Fib exp., channel top)
- Reversing below 10707 (23.6% Fib exp.) targets 10638 (channel bottom)
Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **
![dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – Sights Set on Channel Top](http://media.dailyfx.com/illustrations/2014/01/17/dailyclassics_us_dollar_index_body_Picture_3.png)
Daily Chart - Created Using FXCM Marketscope 2.0
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
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