The US Dollar Index initially fell on Friday, but found enough support at 85.50 level to turn things back around and form a hammer. That being the case,
The US Dollar Index initially fell on Friday, but found enough support at 85.50 level to turn things back around and form a hammer. That being the case, the market looks as if it is ready to go higher, and a move above the 86 handle would in fact be a buying opportunity as far as we can see. We have no interest in selling this market, as the US dollar has been so strong for such a long time now, and it is most certainly in an obvious uptrend. With that, we believe this market will continue to grind much higher.
US Dollar Index Forecast October 27, 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.
