The USD index has bounced from close to the 61.8% retrace of the prior rise. Could this possibly be a turning point for the Index. If so it could also mark a turning point for equity markets as the USD being bid will probably be associated with stress in risk markets.
My own view given positioning in USD shorts is that we are close to a turning point. For the purposes of this blog I am simply pointing out that, as before, the USD index may be key to direction elsewhere.
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