The US Dollar index flushed down into an area of support last Thursday and then rallied back up the next day to reverse the decline. With all classic technical oscillators buried in oversold areas, the odds are that this market is set to rally over the next few days.
Additionally, the price structure shows what is termed a "power buy" (the term coined by Linda Bradford Raschke). Basically, you have a complex correction in the form of an a-b-c down (not an a-b-c Elliott wave count - I know very little about Elliott wave).
Buy the CME US Dollar Index (DXM15) at the market (but below 95.60).
When filled, place a GTC stop at 94 (or around that level).
Nigel Bahadur's normal market observations - usually about the US Futures market. Occasionally though, he will express thoughts on individual stocks and FOREX cross rates.