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.
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.
