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DXY: Dollar Index Update - just hit target at 97.43 closed outDXY: Dollar Index DXY has just hit the target at 97.43 and has come off since but still looks OK to buy at these lower levels again around 97.33 and so long as it doesn't come back below 97.29 (stop for longs) it should go on to break above 97.43 - 0r you can wait and once it gets above 97.45 go long again for next burst of USD strength, as per last DXY comment. USDEUR - next USD long trigger at same time as DXY, probably. Worth trading on next break
TVC:DXYLong
by sumastardon
EURUSD: Trying to break out, needs DXY to break 97.3 to confirmEURUSD: The Euro is trying to break to the upside again - but it needs confirmation from DXY to power ahead from here. DXY has to break below 97.3 to let Dollar bears run riot again from here. Keep an eye on it. It should be defended in 97.43 to 97.33 range by last dollar bulls. If/when 97.3 is broken it will effectively say that the Dollar has lost its last friend and defender...that is the point (if struck) to get heavily short USD and the point to increase long euro positions
Long
by sumastardon
DXY: Dollar Index: testing critical support at 97.43DXY: Dollar Index has come back down to retest the recent lows at 97.43 - support extends down to 97.33 - so some kind of a fight should be expected in this range. The pattern is bearish, still (so only a speccy buy for contrarians with a stop just below 97.30) but be aware that a fall below 97.30 will tip DXY into full-on bearish territory again, signalling the next phase of dollar weakness back to 95.93, then, once this fails, to 95.02 (about another 2.5% - same as the last decline). Minor support at 96.90 could trigger a weak rally attempt back up to 97.3 during the early stages of this decline. London's waiting to see if NY steps in here to defend $...if it doesn't ride to the rescue around the open it will show that right now the Dollar hasn't got a friend left in the world...it should start to fall away as quickly as it did on the last decline at that point (barring possibility of a minor bounce at 96.90, as above). Go long Euro on the other side if/when this trade gets triggered (see Euro comment)
TVC:DXYShort
by sumastardon