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Charts point to a May-June dollar rally trade ahead of us. 0 comments
The U.S. dollar was hammered this last week, as oil as well as gold enjoyed a nice inverse pop, It now appears Technically very clear to me that it is time to enter for a May-June deflation swing here.
UUP is an ETF which track's the performance of the US Dollar as compared to a basket of other currencies. Every time that stochastics of UUP have gone below 20, it has signaled a swing bottom for the dollar. We also have 3 higher lows on the MACD and well as RSI, signaling an uptrend of momentum.
Disclosure:
Short USO
Short GLD
Long DBA (hedge)
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