The dollar has been waffling around the 99-102 range for most of 2017. Right now there is a nice pivot area below acting as support and a pivot area above acting as resistance with the range being fair value. I can see two possible scenarios playing out.
1) We get a break above 102.00 and retest support to continuation of the uptrend
2) The upward trend line breaks and we have a selloff back toward 99 and possibly lower
With US yields getting crushed I am more favorable to a bearish bias. I am playing all price action setups within the range.
1) We get a break above 102.00 and retest support to continuation of the uptrend
2) The upward trend line breaks and we have a selloff back toward 99 and possibly lower
With US yields getting crushed I am more favorable to a bearish bias. I am playing all price action setups within the range.