FX:USDOLLAR Dollar Index
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 corrective wave.