Who’s up for a dollar bounce?

By: Ryan Littlestone

USD/JPY is motoring, USD/CHF is floundering as is USD/CAD. Cable and the euro are looking uncertain. I'm long USD/JPY at 98.00 from an overnight order. I've taken a long in USD/CHF at 0.9100 ahead of the long term support line from Feb 2012 and a long in USD/CAD on a similar basis. I always look for when moves become stretched and USD/CHF is a perfect match. [caption id="attachment_307703" align="aligncenter" width="883"] USD/CHF weekly chart 19 September 2013[/caption] USD/CAD is back above the Sep 2012 support line where I fancied starting to build a long from. [caption id="attachment_307704" align="aligncenter" width="1049"] USD/CAD weekly chart 19 September 2013[/caption] There may be the need for the market to settle further so we could still see some further dollar weakness, but the lack or hesitation to follow through gives me the inkling we could get a nice bounce.