fractal_trader

USDollar Trades back into Correction

FX:USDOLLAR   Dow Jones FXCM Dollar Index
12 0 3
The USDollar             did breakout to the upside about two months ago, but since then the index wasn't able to gain strength against the currencies it's measured against. Therefore we're seeing a continous correction wihtout much bull power. Instead last week closed below the balance zone and there is no reason anymore to try and long on this market. More patience is needed to wait for this go continue what could be a last leg upwards. Let's not get ahead of ourselves though, right now it's waiting for the breakout .. again.
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