Day 321: Dollar bottom?!

Profit: $6.65 Total: $1,362.67

The biggest mover in the market was the huge spike on oil. After inventory numbers came out close to expected, oil went on to make higher highs which floats around $44. For a change, the dollar had some signs of strength today and ended up stronger than all currencies except the Canadian dollar, which gained strength from oil. Tomorrow is a speech from the ECB and I am hoping that Draghi can push the EUR/USD down and give dollar some life.

Finally a green day after a week of destruction. The dollar looks like it finally found somewhat of a support, as I mentioned in yesterday’s comment, however, I’m not totally convinced. If Draghi’s speech goes well tomorrow and hints at another stimulus plan, I will have more conviction of dollar’s reversal. Till then, I will be carefully watching dollar’s rally.

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