BombayBulls

US Dollar Index Outlook

INDEX:DXY   U.S. Dollar Index
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US Dollar Index             is going to consolidate between 96.50 and 99.50 during next few days. That gives us an indication of choppy trading condition ahead. We will be looking to fade any sharp moves between these levels. Reasons are, Fed is still looking to hike the rates which gives bid to any drop in dollar and dollar has covered too much ground too quickly, which is going to give a second though to dollar bulls at extreme height until Fed stops being equivocal. Euro             is the perfect candidate to trade this bias.
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