The US Dollar Index tried to rally during the course of the day on Wednesday, but found enough resistance at the 86 handle to turn things back around. The
The US Dollar Index tried to rally during the course of the day on Wednesday, but found enough resistance at the 86 handle to turn things back around. The Federal Reserve released its Minutes from the last meeting, and as a result markets started to anticipate that perhaps the Federal Reserve would wait to do any tightening. With that, the US dollar of course lost some momentum but to be honest, we need to see a pullback anyway. We are looking for supportive candle below in order to start buying, as the uptrend is not only based upon interest-rate expectations, but also the fact that the rest of the world is doing so poorly.
US Dollar Index Forecast October 9, 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.
