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US Dollar Index Forecast May 16, 2014, Technical Analysis
Updated: Aug 23, 2015, 21:00 GMT+00:00
The US Dollar Index initially surged higher to the 80.40 level, the beginning of resistance. However, you can see that we turned back around and formed a
The US Dollar Index initially surged higher to the 80.40 level, the beginning of resistance. However, you can see that we turned back around and formed a massive shooting star. We actually closed just a touch underneath the 80 handle, as a side bearishness. Ultimately, I don’t necessarily think that this market is going to collapse, but I think a pullback is about to happen. On the other hand, if we break the top of the shooting star we will more than likely head to the 80.60 handle, which is the top of the massive resistance.
About the Author
Christopher Lewisauthor
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.
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