Wednesday, September 21, 2011

DXY trade is on

So we have what I discussed last night - DXY is breaking out to new highs.

Now all we do is buy the pullbacks. One has to wonder what news we get out of Europe overnight. Bunch of econodata is on the docket. I expect weakness there to continue, thus giving DXY extra boost overnight. Next level to watch is 78.96 - flat on the year. This would roughly equal to 200 pips in EUR/USD, which is heading to 1.3350 or so.

Good luck!

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