The US Dollar Index went back and forth during the course of the week, testing the 96 level below showing a significant amount of support. That being the
The US Dollar Index went back and forth during the course of the week, testing the 96 level below showing a significant amount of support. That being the case, the market has form something akin to a hammer, so if we can break above the top of the range, and the 98 handle, we are buyers as the market should then head to the 100 level. Pullbacks at this point time should be well supported, and we believe that the US dollar will continue to be one of the favored currencies in the Forex markets. Ultimately, we have no interest in selling.
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.
