Thursday, May 5, 2016

May 5 - Potential USD bullish reversal

Still long USD via UUP and short GLD.  There has been some decent inverse correlation btw the two so will be pretty obvious soon whether the reversal will occur.

We had an overshoot and if it reverses it might bring a stronger bounce as the dip below would've created a bear trap.

FXE (euro) up against major resistance and if it reverses here, will push the USD and accordingly UUP higher.

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