#USDx and #Majors: Short Term Relief

Usdx has left runaway gaps while going up these last couple of weeks. Gaps are known to be covered sometime. In reality, they are 'unpaid debts'. Therefore I expect USDx to make a retrace towards the 78.72 level at first and than continue its descent downwards towards the 76.66 level.

This will bring some relief to other currencies especially the Majors. The Euro, for example,  is expected to gain some ground in the following weeks before it resumes its descent towards lower levels. Again, below parity is a must for EURUSD in the upcoming years.


Here is the chart for USDx:

USDx will most-likely cover the gaps sooner than later. A short-term correction is to be expected before uptrend resumes.