The US Dollar Index gapped higher at the open on Thursday, and then went back and forth. By printing a neutral candle, it looks as if the market is simply
The US Dollar Index gapped higher at the open on Thursday, and then went back and forth. By printing a neutral candle, it looks as if the market is simply going to grind away in this general vicinity. With that, we have no interest in trading this market, but we will use it as a barometer on the strength of the US dollar in general, and then place our trades accordingly in the spot Forex markets. Having said that, if we broke above the top of the range for Thursday, we could be tempted to get involved to the upside, but recognize that a lot of volatility will be the norm.
US Dollar Index Forecast August 14, 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.
