The US Dollar Index went back and forth during the day on Tuesday, testing the 97 level for support. The market looks a bit confused at the moment, so
The US Dollar Index went back and forth during the day on Tuesday, testing the 97 level for support. The market looks a bit confused at the moment, so quite frankly we are not interested in risking any money on the contractor now. With this, we are simply going to trade the US dollar against specific currencies in the spot Forex markets. We believe that the 96.50 level will be massively supportive though, so any pullback at this point in time should be minor at best. On the other hand, we recognize that the path higher is going to be choppy as well.
US Dollar Index Forecast August 12, 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.
