justatrader
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US Dollar Index - Make hay when the sun shines

INDEX:DXY   US DOLLAR CURRENCY INDEX
250 1 6
So the rally has been rapid and strong. But, a much needed correction is around the corner. Expect a small rally in the Dollar before the correction start.

Fed minutes this week: Will it be a reasonably confident, but cautiously optimistic?

USD Long positions could see some more unwinding on the cards. Q1 GDP tipped to be lower, signalling a slowing down in momentum.

Note that this doesn't mean the USD will crash, but rather will take a much needed correction. Meaning, its not a good time to take on 'new long positions in USD'. Overall, once the correction is done, expect the Dollar to be bullish as hell as interest rates start to diverge fast and quick.
Hey justatrader, I'll be looking for a daily close below the 96.17 level, for a further move downward. Thanks for sharing and Good Luck!!
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