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
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.
