The Dollar Index rally presents 2 setups
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While the move overnight in the Dollar Index (DXC) has been
impressive, and long overdue, we would note that on EUR/USD, USD/JPY and DXC
their trend-channels, extending back to early April have still not been
breached. Hence, to some extent, we need to assume that the trend lower in the
dollar, higher in EUR/USD remains…for now.
Conversely, AUD/USD and USD/CAD have broken their trend channels from early
April — this confirms a break of the old trend and now presents us with a
possible trading opportunity as outlined in the charts below.
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