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U.S. FX Preview |
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By Dave Floyd
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October 28, 2010
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OK, so here is the deal - mixed signals in the dollar based pairs - great, just what we need currently! However, let's dig a little deeper, there may be some clarity here.
The 60-min chart of the Dollar Index (DXC) offers two possible near-term scenarios. Both however, suggest further DXC weakness.
Meanwhile, USD/JPY looks bullish and the correction off the highs could offer some attractive long entries.
Frankly, until there is absolute clarity on DXC becoming bullish - not supported by above chart, the better bet is to consider shorts in USD/SGD.
For more from Dave, visit Aspen Trading for more updates. |
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