Tuesday 5 September 08:40 UK time

The European session begins, digesting overnight news: soft services PMI from China, RBA interest rate hold. Yields are up, stocks and oil down, the VIX is up (although still relatively low at 14). The dollar index is up and commodity currencies are under pressure. There are no top tier data releases from the upcoming US session so this sentiment could remain throughout the day.

All in all it points to a viable long dollar trade. My decision is to wait for a little pullback and support to form before entering a trade.