US Dollar Futures
The Dollar futures have been on a slide. They managed to sneak in a few minor bounces but nothing with any teeth.The structure of the decline appears to be a series of impulsive moves that,in my opinion, is not complete. I see one or two more lows ahead of us which will ultimately bottom out somewhere around 85.5. This location is major support level in the weekly price chart and a channel extension target in the 240 minute. From this level I see a decent rebound unfolding probably of an non-impulsive nature. This should carry us back to the +/-94 level. As a side none: I believe this retracement will trigger a slide in the commodity and metals market. Please follow along with me as I will be discussing this setup in the days and weeks ahead. Also, if there is a another product of your concern contact me to discuss strategies both in futures and in options.