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.
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.
