Loading ...USDU, UUP – Daily charts
USDU, a broader measure of the $USD, has decided to join the party today. It broke above the upper resistance trend line, and at the same time cleared the 200DMA. The dollar is getting overbought. Both UUP and USDU are standing naked above the upper Bollinger band. For this transgression a stock is usually punished with a reversal. At the least they should consolidate for a day or two.
UUP Daily
That was fast from over sold to over bought .
USDU breaking out is Not a good thing…maybe the old infamous FBO ?
No definitive answer here that’s for sure. Speculation, yes. Have heard it said that every man and his pet rabbit is/was short the dollar. Bullish stuff, that. Another thing – take a look at some of the impulse moves the dollar has made in the past. It can stride along like the Jolly Green Giant on steroids when it wants to. IMO the dollar will pause for a few days, maybe sag a bit, then resume the advance. Again, that’s speculation at this point. What a run its having though. Gold is holding up well under the pressure so far, and the stocks are doing even better. That’s something we want to see.