Long DXY
I see an opportunity to go long the US Dollar Index (DXY) at current levels. There has been a steady up tick and with economic data due this week from majors like Japan and Britain, it should make for an interesting week for the USD.
That said, there is an immediate resistance at 102, which has been tested 4 times since the beginning of March, so even a mildly significant break through 102 will be massively bullish, post which the next major resistance is at 103.
Additionally, you may have heard/read about the increasing Euro-dollar shortage which will be a source of upward pressure on the USD, which is another broad context to consider (with a slightly longer time horizon in mind).
That said, there is an immediate resistance at 102, which has been tested 4 times since the beginning of March, so even a mildly significant break through 102 will be massively bullish, post which the next major resistance is at 103.
Additionally, you may have heard/read about the increasing Euro-dollar shortage which will be a source of upward pressure on the USD, which is another broad context to consider (with a slightly longer time horizon in mind).
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