The US Dollar Index gapped lower at the open on Thursday, testing the 95.50 level but then bounced initially. However, there’s far too much in the way of
The US Dollar Index gapped lower at the open on Thursday, testing the 95.50 level but then bounced initially. However, there’s far too much in the way of resistance above to continue to go higher, so we look at this market is one that should continue to show bearishness, and therefore we are only sellers at the moment. We think that the markets probably going to reach down to the 94 level, perhaps even lower than that. We have no interest whatsoever in buying until we get some type of supportive candle.
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.
