AgentSmith

Choppy DXY to continue

INDEX:DXY   US DOLLAR CURRENCY INDEX
122 1 1
An updated version of my previous analysis. This is how I'm looking to play the majors from a study of the dollar index             . First week of September is loaded with event risk and as traders return to their desks we should see a pickup in volatility .

My bet is on dollar strength into the FOMC @ mid September at which point taper expectations will disappoint resulting in a sustained breakdown into the 78 area. I will look to initiate longs in EurUsd             pre FOMC until the end of the year.

2014 looks to be a year of risk positive trading, this ( IMO             ) including dollar strength on the majors. Shorts on Fiber and particularly Cable will be preferred.
This long term view has played out amazingly, I expect 1 or 2 more legs up still, so the upside target of 103 is still possible
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