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
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.
