The US Dollar Index fell during the course of the week, testing the 95 handle. However, there is significant support all the way down to the 94 level, and
The US Dollar Index fell during the course of the week, testing the 95 handle. However, there is significant support all the way down to the 94 level, and on top of that there is a bit of an uptrend line that we are still following. With this, we feel that the markets will ultimately find buyers but have not shown any proclivity to bounce quite yet. We need to see perhaps a hammer or some type of impulsive green candle in order to start taking advantage of what should be value.
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.
