 "Commodity outlook and top trading ideas by Tradebulls for today")
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls:
US Dollar Index Future (DXY) is extending its losses and short term trend has shifted to negative after it closed below 93.90. The reason behind the correction is the rise in Euro. Euro hit 2 week high as ECB officials are ready to discuss a timetable for ending its massive bond-buying program. Last Friday’s better-than-forecast US jobs report solidified a June Fed rate hike so traders may believe this has been fully-priced into the DYX, making it time to square positions. Technically DXY has broken the
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