We have seen quite a roller coaster ride for the once mightly US Dollar since the Greek debt crisis hit. The Dollar had been enjoying a healthly counter trend rally, when the world beat a path back to the safe confines of the Dollar as the Euro, everyones favorite alternative currency took a pasting.
Nothing has changed as to the fundamentals of the Dollar. Debt increases into the misty future, world diversification out of the greenback into heaven knows what. The emergence (again) of the BRIC block.
As you can see from the chart, the orchestrated defense of the Euro by the central banks and the US Fed is working. The Euro is having a nice bounce, and the Dollar is headed lower. The brave can short with a target of 82 to 81 with a stop close above 86. Should another Greek, Portuguese, Spanish, English drama hit, close out fast for the Dollar will be a big beneficiary.
The old saying Jack be Nimble, Jack be Quick applies. But then profits go to the bold.
