After the prolonged downtrend in the US Dollar Index that started back in January,
recent political developments seem to have had a short-term impact on its trajectory.
I believe we could soon see a short-term correction in the dollar.
However, after months of decline, this recovery won’t be straightforward —
expect stop hunts targeting buyers before any sustained move higher.
For this week, a short-term sell setup could be considered
— with proper risk management — before the broader bullish trend resumes.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.