Here we have the DXY on the weekly, what we are looking for is a drive lower to push out the now 'Net Longs' and to put them offgurad and to attract short sellers into this market.
Next we next to see a higher low somewhere in the regions of the highlighted area, in order to look for SHORT opportunities in the likes of:
EURUSD AUDUSD GBPUSD NZDUSD
OR by going long on the FXCM USDollar index.
This of course may not happen however this is something we are keeping a very watchful eye on for the next couple of months.
looks like any higher moves failed and were gunna come down to around low 90's do u agree??
ZenTrader108
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@majorlee, Hey, Yes been keeping this one on the back burner idea and yes it looks very likely we could revisit the highlighted 91-92 area, that in our opinion is a major inflection point for what we are looking for, this could take up to October to occur though so patience is a must, will be looking for short-term opportunities across the other XXXUSD pairs now.