for a day trader this would be correct.
Actually, this latest EUR/USD rally already erased the last ten days’ worth of losses in the pair.
More importantly, the dollar index may be near its historical lows, but I would be very cautious betting the dollar can only go up from here. Looking at the long-term charts, and given all the competitive easing by almost all central banks, it seems more likely the dollar will go sideways or become range-bound for a long time to come.