Tactical Perspective FOREX: Sept. 2

The US Dollar Index may be poised to turn back down.  To reiterate our call published several weeks ago, we expect that this next leg down will be a buying opportunity and expect it should hold a higher low relative to the previous swing. 

We would recommend either scaling into long positions with a stop under that swing low, or, if the position size is small enough, initiating long positions on the first real upward momentum from the 81.00 – 82.00 area.  For now, we hold no position in this market.

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