Public opinion on US Dollar is very bearish.
It is at its lowest in the last 4 years.
It is strange to see that prices are not yet below the March 2008 low.
So prices still holding up and opinion at its bearish extreme tells me that now would be a great time to buy the US Dollar.
This would be the contrarian trade.
Personally I have bought put options on EUR and AUD vs USD.
These are long term put options.
On the DXY we should see a move in the next 12 - 18 months that will take the DXY above 90.
The Index stands at 74 as of now.
Thanks to Dan Eric for this chart from SentimenTrader.
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