Here is a daily chart of the US Dollar index. I last commented on this market here.I think the past two days' upmove is the harbringer of a new bull market in the dollar. I see the 82.50 level as the short term target on the upside. Once the index moves above thate level I will be convinced that a move up to 97 is underway.
2 comments:
I thought the dollar would bounce here as well, but some time in the future could you explain how you picked 97 as the target?
Again, the commentary reflects a pure lack of education. Carl, I concur with your view on the USD. This may be one of the more profitable trades developing at this moment.
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