The US Dollar Index fell during the day on Tuesday, but we do have enough support to keep this market afloat in our opinion. We did bounce towards the end
The US Dollar Index fell during the day on Tuesday, but we do have enough support to keep this market afloat in our opinion. We did bounce towards the end of the session a little bit, but quite frankly we think there is a massive amount of noise and support going all the way down to at least the 98.50 level in the short-term. Any type of supportive candle between here and there would be a buying opportunity as we have no interest in trying to fight this type of uptrend. We are bit overbought at the moment, so it makes sense that we may have to fight our way higher.
US Dollar Index Forecast December 2, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
