Mighty dollar - time to squeeze the remaining shorts?
Dollar made that huge move post FOMC, reached overbought levels, took a needed pause, but refused moving much lower over past sessions, and is once again moving higher.
Let's see how this closes, but the DXY is currently putting in the biggest positive candle since the FOMC "panic".
We are above the 200 day moving average, but it still is not positively sloping (that takes time).
92.4/92.5 is the first huge resistance to watch as this is the upper part of the range and the negative trend line since last autumn.Imagine the pain the remaining shorts would experience should we start pushing the upper part of the range...and the shorts aren't few...
Let's see how this closes, but the DXY is currently putting in the biggest positive candle since the FOMC "panic".
We are above the 200 day moving average, but it still is not positively sloping (that takes time).
92.4/92.5 is the first huge resistance to watch as this is the upper part of the range and the negative trend line since last autumn.Imagine the pain the remaining shorts would experience should we start pushing the upper part of the range...and the shorts aren't few...
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