US Dollar Index Forecast August 6, 2015, Technical Analysis

The US Dollar Index went back and forth during the course of the session on Wednesday, as we continue to bang around the 98 level. Ultimately, this market should eventually break out to the upside, if we can clear the top of the range for the session on Wednesday. We believe that the market will then reach towards the 98.50 level, and the pullback should continue to be buying opportunities. We believe that the market is well supported at several different levels underneath current trading, so at this point in time we have no interest in selling. We believe also that Friday will be highly influential on this market, so Thursday may be a very quiet session.