I have been bearish the Dollar expecting this downward move as I have pointed out through my Dollar index analysis posts through my partnership with InstaForex. You can find my analysis here. Last night I closed all my Dollar short positions and today I’m opening Dollar longs. The Dollar index has reached the important 61.8% Fibonacci retracement and is looking ready for a bullish reversal.
The Dollar index needs to reverse from current levels if my view is correct. The trend will be confirmed bullish on a break above 102.30. This will also increase the chances for a move towards 105-110 dramatically. In the comments section you will find analysis on other pairs as well….thank you for taking the time to catch up on my thinking. Subscribers are informed directly through SMS of my trades.