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Published on Nov 28, 2016
The
US dollar fell initially during the day on Monday, and then turned back
around to form a hammer. The hammer of course is a very bullish sign,
so I believe it’s only a matter time before the buyers get involved. I
believe ultimately though that we need a pullback in order to find value
below and build up enough momentum to finally break out to the upside. I
prefer to see some type of value play present itself though, because we
are overextended so I would love a move down to the 107.50 level, but
would settle on a move down to the 110 handle. I have no interest in
selling regardless what happens next.
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