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Jul 18 2018

DX Reversing off 95 handle again

Today is the 6th time in the past 3 weeks that we have seen the Dollar test and fail at the 95 level.

If/when we get a confirmation of this failure by closing below the key Pivot of 94.13, there will be many opportunities to play retrace rallies across metals/grains and softs, which have been smashed over the last month.

Already today we are seeing intra day reversals in the oil complex, and hammer reversals in GC/SI/HG + PL. These reversals should continue to develop as the dollar confirms (at least) a short term top.

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