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US Dollar Index Forecast August 27, 2015, Technical Analysis

By:
Christopher Lewis
Updated: Aug 27, 2015, 05:10 UTC

The US Dollar Index initially gapped lower at the open on Wednesday, but then broke above the top of the range from the Tuesday session. By slamming into

US Dollar Index Forecast August 27, 2015, Technical Analysis

The US Dollar Index initially gapped lower at the open on Wednesday, but then broke above the top of the range from the Tuesday session. By slamming into the 95 level, we are testing a significant resistance barrier. If we can get above there, we feel that the market should continue to go much higher. With this, we are simply going to wait in order to start going long. It does look like the market is trying to find enough support to continue going higher, but it may take couple of sessions. It’s simple though, if we can get above the 95 handle for any real length of time, we are buyers.

 

US Dollar Index Forecast August 27, 2015, Technical Analysis
US Dollar Index Forecast August 27, 2015, Technical Analysis

About the Author

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.

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