Dollar Bulls Make A Comeback

By Alexandros Yfantis of Trading2Day

Alexandros Yfantis • Jun 9, 2017 at 11:24 AM EDT

The Dollar index is bouncing off oversold levels and the lower channel boundary breaking short-term resistance trend line. Target 98.50-99.

You were warned that the Dollar was expected to strengthen as there were many indicators pointing to the end of the bearish trend.

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The Dollar index is bouncing off oversold levels and the lower channel boundary breaking short-term resistance trend line. Target 98.50-99.

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USDJPY bullish since 109.50 looking for 111 at least.

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USDCAD breaks 1.3540 and we move above 1.36.

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Bulls should be careful.

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AUDUSD lagging behind Gold I expect it move towards cloud support. Not a time to be buying.

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GBPUSD election aftershock?who would expect such a decline?

#GBPUSD What I expect as long as price is below 1.3040 pic.twitter.com/I8ehdhfbbO
— Alexandros Yfantis (@alexanderYf) June 8, 2017

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EURUSD has broken the up trend channel and TL and has started a decline targeting 1.11-1.10.

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This is not the time to be Dollar bearish….do not get carried away by the bearish sentiment on the Dollar….everyone hated EURUSD at 1.04 looking for parity and screaming about it….now? everyone hates the Dollar index at 97 while at 103.50 we were going to 110……

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