The US Dollar Index initially fell during the course of the session on Friday, but found enough support near the 96.25 level to turn things back around
The US Dollar Index initially fell during the course of the session on Friday, but found enough support near the 96.25 level to turn things back around and form a hammer. With this, the market should continue to go higher but we would prefer to see a move above the 98 handle in order to put our money to work. We have no interest in selling whatsoever, so this is essentially a “buy only” type of situation as far as we can see. Ultimately, we think this market goes to the 100 level given enough time.
US Dollar Index Forecast August 3, 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.
