DX USD potential rise in strengthDX on support, if it rises above 95 on daily chart it could easily continue its journey up
General USD strength still preferred
DX1! trade ideas
Dollar Index approaching a possible topMy yearly composite cycles on the Dollar Index points to a possible high around the 28th August - early September. I would suspect that price may even reach the 0.618% Fib retracement around the 98.000 level before a possible decline. The cycle suggests that price may trade lower until early December.
If price does make it that high and technicals point to a possible reversal, it may be time to buy some puts! It would be interesting to see how everything plays out.
Regards
RigK
When Price Breaks Resistance of A Rising WedgeThere is time to follow the trend or patterns and indicators or a combination thereof. Each trade is specific to that and then there are those traders who do not use any of those things. Happy trading.
