The US Dollar Index initially fell during the course of the day on Tuesday, but found enough support below to turn things back around and form a
The US Dollar Index initially fell during the course of the day on Tuesday, but found enough support below to turn things back around and form a nice-looking hammer. The hammer of course suggests that we are going to go higher, and as a result we are buyers on a break of the top of the range for the session on Tuesday. We believe the market will then head to the 86 handle, and then followed that by heading to the 87 handle. We have no interest whatsoever in selling this market as the market looks so strong.
US Dollar Index Forecast October 22, 2014, 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.
