US Dollar Index Forecast January 2, 2014, Technical Analysis

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When the US Dollar Index started trading electronically on Wednesday, the market had gapped slightly to the upside. However, there is almost no liquidity in this market at the moment, so we cannot read too much into the candle itself. Rather, we think that this market is going to continue to find support just below the 80 handle, and as a result we are more than likely going to go little bit higher from here, but all things being equal we feel this market is still definitely consolidating. Because of this, were willing to buy on the short-term charts, but not much else.

 

US Dollar Index Forecast January 2, 2014, Technical Analysis

US Dollar Index Forecast January 2, 2014, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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