HumbleTraders

Gap up suggests weakness. Mid term reversal could be imminent.

Short
INDEX:DXY   US DOLLAR CURRENCY INDEX
Dollar index has been breaking multi year highs for the last number of months. Unusual and large gap up created this week gives the reason to believe that the mid term high could be in place. As the are no real fundamental strength behind Us dollar , foamy uptrend can quickly collapse. Weekly bar analysis suggest the perfect entry for bears with the close below the previous bar. Price has a upward potential for now. Sell stops are recommended only with the break below 89.50