The US Dollar Index rose slightly during the course of the day on Tuesday, as we broke above the 99.50 level. We are just below the 100 handle, which we
The US Dollar Index rose slightly during the course of the day on Tuesday, as we broke above the 99.50 level. We are just below the 100 handle, which we think will be a bit of a barrier, due to the fact that it is a large, round, psychologically important number. However, there is nothing on this chart whatsoever that suggests that we cannot break out to the upside. In fact, we quite frankly expect this market to do exactly that. However, it could take a bit of momentum building in order to do so, so we are looking for short-term pullbacks as opportunities to start buying again.
US Dollar Index Forecast November 18, 2015, 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.
