The US Dollar Index initially fell during the course of the day on Tuesday, but as you can see turned back around and slammed into the 97 handle. We
The US Dollar Index initially fell during the course of the day on Tuesday, but as you can see turned back around and slammed into the 97 handle. We believe that this market is going to continue to go higher though, probably heading towards the 98 handle yet again. This is a marketplace that has been consolidating for a minute now, but as we approach the last couple of weeks of summer, eventually the big money will come back into the market and start pushing things around. In the meantime, we believe that we simply continue the consolidation but are very cognizant of the fact we should break out of it somewhat soon.
US Dollar Index Forecast August 19, 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.
