The US Dollar Index rose during the course of the session on Friday as we continue to see strength in the US dollar overall. The 98.50 level has offered
The US Dollar Index rose during the course of the session on Friday as we continue to see strength in the US dollar overall. The 98.50 level has offered enough support to turn things back around, and the weekly candle is a hammer. With this being the case, it looks as if we are ultimately going to break above the 100 level finally. Pullbacks continue to offer buying opportunities, and as a result we have no interest in selling this market going forward. We believe that the market is well supported at the 98.50 region, the 98 region, and the 96.50 region.
US Dollar Index November 16, 2015, 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.
