The US Dollar Index fell during the session on Wednesday as the Federal Reserve gave its minutes from the Tuesday meeting. The market closed the very
The US Dollar Index fell during the session on Wednesday as the Federal Reserve gave its minutes from the Tuesday meeting. The market closed the very bottom of the candle, and after the shooting star for Monday, it does indeed look like the US Dollar Index is going to continue to fall. We think that there is significant support at the 79 handle however, and doubt that the market can get below that area. Nonetheless, a break of the Wednesday lows would indeed be a signal to start selling. With the Federal Reserve looking to expand its quantitative easing programs, it does indeed suggest that the Dollar will continue to fall overall.
US Dollar Index Forecast December 13, 2012, 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.
