A NICE PLAY TO GET IN ON USD LONGTERM STENGTH
After experiencing such a big selloff and the break of many key 'lines in the sand', (this could be a key trendline, key support/resistance line, 50ema etc.) the next thing you should be asking yourself is, where can I get in on this newly forming trend at the best value? It is never wise to 'jump on a moving train' and put a short order on at the bottom of the run because you have a fear of missing out on profit. It is always better to let the market 'come to you' in the form of a pullback to a lower high (bear market) /higher low (in a bull market) before considering putting a trade on. In this case a nice area to get back in on the USD strength would be the re-test of the backside of the trendline, 0.382 Fib, the line around 1.375 and the daily 50ema. These have proven to be respected in the past and as you know, 'what was once support, becomes new resistance'.
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