The US Dollar Index fell initially during the course of the week, testing the 85 level for support. With that being the case, we ended up bouncing enough
The US Dollar Index fell initially during the course of the week, testing the 85 level for support. With that being the case, we ended up bouncing enough to form a hammer and it suggests that the market is in fact going to continue going higher, perhaps testing the 90 level given enough time. With that being the case, we feel that the market can be bought on dips, and simply cannot be sold anytime soon as the US dollar continues to be the favored currency by Forex traders.
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.
