US Dollar Index Forecast November 18, 2015, Technical Analysis

The US Dollar Index rose slightly during the course of the day on Tuesday, as we broke above the 99.50 level. We are just below the 100 handle, which we think will be a bit of a barrier, due to the fact that it is a large, round, psychologically important number. However, there is nothing on this chart whatsoever that suggests that we cannot break out to the upside. In fact, we quite frankly expect this market to do exactly that. However, it could take a bit of momentum building in order to do so, so we are looking for short-term pullbacks as opportunities to start buying again.