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Short

USDollar Still Correcting Up But Waiting for Short Break

FX:USDOLLAR   Dollar Index
26 0 0
Market structure and retail trader positioning have stacked the odds in favor of a continuation of the intermediate term downtrend in place since April this year. Retail traders are still heavily long the USDollar             . Currently, the market is still correcting up from that last impulsive downward move. Regardless of the outcome of the NFP report this morning, we will be waiting to enter short on a technical confirmation of the end of the current bullish corrective wave.
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