US Dollar Index Forecast October 16, 2014, Technical Analysis

The US Dollar Index fell during the course of the session on Wednesday, testing the 84.50 level. That being the case, it appears that the market found enough buyers down there to turn things back around and form a massive hammer. The hammer of course suggests that the market is going to go higher, and as a result break the top of the hammer, extensively the 86 level, would have enough to start buying this market yet again as we should eventually hit the 90 level given enough time as the US dollar is without a doubt the strongest currency.