I have been bearish the Dollar expecting this downward move. 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.
