The US Dollar Index fell during the course of the week, testing the 96 level. With that being the case, the market looks as if it is trying to break down
The US Dollar Index fell during the course of the week, testing the 96 level. With that being the case, the market looks as if it is trying to break down a little bit, but we see massive support at the 94 level. With that being the case, the market below has more than enough opportunity to pushes market higher. Any type of supportive candle has us buying. A break down below the 94 level would be massively bearish and we would become sellers. At this point in time though, we anticipate that this is more or less going to be a short-term trader’s type of market.
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.
