Scott Nations Is Still Bullish On US Dollar

On CNBC's "Futures Outlook," Scott Nations reiterated his bullish call on the U.S. Dollar. On Aug. 6, he recommended a bullish trade on the dollar Index and now he sees more upside.

Nations explained that the U.S. dollar is recovering as the global economy recovers. The evidence of the recovery is in crude oil and copper as they traded higher on Monday, believes Nations. Gains in factory orders in Europe are another sign of recovery for Nations. If the world is recovering than the U.S. rates have likely bottomed, and if the U.S. interest rates have bottomed than the U.S. dollar has bottomed, said Nations.

To make a bullish bet he wants to buy the September contract in the Dollar Index at 93.25. He would place a stop loss at 92.90 and his target price is at 94.25.