From the Desk of Ian Culley @IanCulley
I haven’t ruled out a US dollar bounce.
But it seems less likely with each passing day.
Other major global currencies are regaining lost ground following a year dominated by dollar strength. It shows in the US Dollar Index $DXY as it continues to slide back within its prior multi-year range.
Lower lows for the DXY will not instill confidence in dollar bulls. Meanwhile, savvy investors should take its performance as a signal to buy other currencies.
Here are two of my favorite setups from the forex markets…