The US Dollar Index rose during the course of the session on Thursday, breaking well above the 95 handle. Because of this, we feel that the market is
The US Dollar Index rose during the course of the session on Thursday, breaking well above the 95 handle. Because of this, we feel that the market is going to continue to go higher, but we should see a bit of resistance at 96. Pullbacks might be needed in order to build up enough momentum to continue going higher, but we will look at those as potential buying opportunities in a market that most certainly has shown significant strength from the 93 level. We have no interest in selling, and believe that we are trying to get back towards 98 given enough time.
US Dollar Index Forecast August 28, 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.
