paulwoll

Down Channel breakout setup in US Dollar Index

Long
INDEX:DXY   US DOLLAR CURRENCY INDEX
Believe fast track trade approval this week and/or #FOMC minutes could catalyze dollar higher. Near a down channel breakout here. Decent support at green line. May be range bound short term though within 93.10-95.48 range. Long term believe EUR/USD will reach parity by end of year and dollar may surpass Euro given ECB QE measures. Watch for channel break for long entry. Or < 93 for short play to 200EMA.