The Dollar has shrunk from channel resistance. As long as it remains in this channel, bullishness remains. A bounce off trendline support in the 95.6 area is preferred, but we could still see a test of 95 flat. The latter case would imply sizable bounces in the Euro, AUD, and Gold. Of course, if the bullish thesis holds, these will bounces to sell, and in the case of the Dollar, the dip to buy.
I project a measured move to the 102 area in the coming months, which should provide the next consolidation zone.
I project a measured move to the 102 area in the coming months, which should provide the next consolidation zone.