The US Dollar Index fell apart during the session on Monday, slicing all the way down towards the 92.50 region. That was a very significant move, but we
The US Dollar Index fell apart during the session on Monday, slicing all the way down towards the 92.50 region. That was a very significant move, but we did bounce to take back about half of those losses. This was predicated upon the idea of the Federal Reserve stepping away from raising interest rates this year, and that of course breaks down the interest-rate differential for the US dollar. Ultimately though, there is a significant amount of support below so we think that the one thing you can count on his volatility. At this point in time though, we recommend stepping away from this market until it makes up its mind.
US Dollar Index Forecast August 25, 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.
