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 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
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.
