The US Dollar Index initially fell during the course of the week, but found enough support near the 93 handle the turn things back around and form a
The US Dollar Index initially fell during the course of the week, but found enough support near the 93 handle the turn things back around and form a hammer. The hammer of course is a very positive candle, and as a result we feel that the market should go much higher, perhaps heading to the 98 level. If we can break above there, the market should then reach towards the 100 level. Ultimately, pullbacks should offer value and buying opportunities, as the markets look ready to continue consolidating overall.
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.
