The US Dollar Index initially fell during the day on Wednesday, but found enough support below to turn things back around and form a hammer. The hammer of
The US Dollar Index initially fell during the day on Wednesday, but found enough support below to turn things back around and form a hammer. The hammer of course is a bullish sign, so we feel that the US dollar will continue to climb. With this, we anticipate that this market will reach towards the 98 handle given enough time. We have no interest in selling, and believe that buying is the only thing that can be done at this point in time. Ultimately, the volatility is one of the things that you can certainly expect at this point.
US Dollar Index Forecast August 20, 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.
