U.S Dollar Index Futures—The U.S dollar in the June contract finished down 19 points at 97.20 right near a 2 week low as I have been recommending a bullish position from around the 97.41 level and if you took that trade place the stop loss at the 2 week low which stands at 96.87 as an exit strategy.
The chart structure at the current time is outstanding as prices have gone nowhere over the last several weeks as we await the highly-anticipated possible agreement with China on trade which will develop tonight and certainly send volatility into this currency tomorrow.
The U.S dollar is trading right at its 20 day but still above its 100 day moving average as the volatility has come to a crawl, but I don’t think that’s going to last much longer especially if some type of large trade deal occurs.
For the bullish momentum to continue prices have to break the April 26th high of 98.09 in my opinion as it will be very interesting to see what the outcome of this trade agreement is as traders and investors around the world are on pins and needles.
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