The US Dollar Index rose slightly during the course of the day on Monday, as we continue to try to break above the 100 level. The 100 level of course is a
The US Dollar Index rose slightly during the course of the day on Monday, as we continue to try to break above the 100 level. The 100 level of course is a large, round, psychologically significant number, so we are not surprised at all to see a bit of selling pressure. Ultimately, we do think that this market breaks above the 100 level, but we will more than likely have to pullback several times in order to build up the correct momentum. We are buyers of short-term pullbacks on short-term charts as we go higher.
US Dollar Index Forecast November 24, 2015, Technical Analysis
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.
