The US Dollar Index rose drastically during the session on Friday, after the nonfarm payroll numbers came out fairly strong. With the unemployment at six
The US Dollar Index rose drastically during the session on Friday, after the nonfarm payroll numbers came out fairly strong. With the unemployment at six years lows, we believe that this market will continue to go higher given enough time. However, we have been so overly bullish that we feel this market should be one that can be bought on pullbacks. We have no interest in shorting this market obviously, even though the overbought condition could produce rather violent falls. We believe that this market will eventually go to the 90 handle, but of course that’s going to take some time.
US Dollar Index Forecast October 6, 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.
