The US Dollar Index did very little during the session on Wednesday, testing the 85.50 level for support. Because of this, it appears that the market
The US Dollar Index did very little during the session on Wednesday, testing the 85.50 level for support. Because of this, it appears that the market continues to see this area as support, and because of that we are looking for supportive candles in order to start buying again. With that, we recognize that there is plenty of support below, and as a result we have absolutely no interest in shorting this contract as the US dollar remains supreme as far as demand is concerned. We do believe eventually this market could go as high as 90.
US Dollar Index Forecast October 8, 2014, 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.
