The US Dollar Index tried to rally during the session on Monday, but as you can see failed and turned back around. Because of this, it appears that the
The US Dollar Index tried to rally during the session on Monday, but as you can see failed and turned back around. Because of this, it appears that the market will more likely try to drop back down towards the 80 handle, but on the other hand if we break above the top of the candle for the money session, we feel that the market will head to the 81 level next. We do believe that there should be significant amount of support near the 80 handle, so we are willing to buy a supportive candle if it does in fact appear.
US Dollar Index Forecast July 8, 2014, Technical Analysis
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.
