The US Dollar Index initially rallied during the course of the session, but found enough resistance above the 98 handle the turn things back around and
The US Dollar Index initially rallied during the course of the session, but found enough resistance above the 98 handle the turn things back around and form a shooting star. The shooting star of course signifies weakness, but we think there is more than enough support below to keep this market afloat. We are simply going to wait for this pullback, and start buying supportive candles as the market should continue to grind its way towards the 100 level over the longer term. We have no interest in selling, as the buyers are firmly in control.
US Dollar Index Forecast August 10, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
