The US Dollar Index initially fell during the course of the week but turned back around to form a bit of a hammer. The hammer of course is a very bullish
The US Dollar Index initially fell during the course of the week but turned back around to form a bit of a hammer. The hammer of course is a very bullish sign, and it seems as if it’s only a matter of time before we reach towards the 100 level. The 100 level is of course a large, round, psychologically significant number, and obviously resistive based upon the recent pullback that we have seen from that level. Ultimately, we believe that the market continues to go higher given enough time, but we could see a bit of volatility in this area.
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.
