Is the recent retreat in the dollar just that, or is the dollar following a longer term trend line to new highs? Commodities verses the dollar, this relationship will tell the tale, however, oil and its volatility makes this relationship more complicated, recent events In the Middle East may have caused a short term spike in oil and gold, but for how long. Do we trade UUPT here? I believe the dollar and the Euro are close to parity and I also believe there will be a bounce in the dollar from Fridays levels. I expect a final shake out in oil and am looking to position myself in UWTI for a bounce. Maybe a small position here to test the long term trend. UUPT may provide a small profit. Trade well!
