US Dollar Index Forecast October 10, 2014, Technical Analysis

The US Dollar Index initially fell during the course of the day on Thursday but found the 85 level supportive enough to turn things back around and form a hammer. This hammer of course suggests that the market is going to continue going higher, as 85 level is such a round, large, psychologically significant number. The trend is most certainly to the upside, and as a result we feel that this market will continue to go higher. With that, we have no interest in selling and will continue to look at short-term pullbacks as buying opportunities.