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.
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.
