Well EUR/USD rising wedge reversal is helping our DXY falling wedge breakout trade. Use some caution, but start looking here. Also other DXY components are starting to look like they are taking a cue from Euro against the dollar. CHF and JPY are ignoring the developments so far, as they are risk off instruments like the buck, but CAD, SEK, and GBP are reversing and heading way lower as I type.
Levels of resistance to surpass are: 74.30 74.50 74.70 74.90 and 75.10
Will be tough but doable if it gets going...
UPDATE 1 pm edt
Finally, CHF and JPY are now afraid of dollar as well, and are starting to respect the king. We now have all DXY components cooperating. This trade just got more steam. Use pullbacks to reload...
No comments:
Post a Comment