Loading ...Did the Dollar Break Down?
Wanted to share something. Everyone is saying the dollar broke down. Did it?
The yellow line broke down. What about the white line, the shoulder line?
Rambus was calling this an inverse Head and Shoulders…. ?.
Calling for the dollar’s demise, I believe will be proven to be premature again…
I think it did break down Chuck
basis UUP
Back testing now
what do you think ?
http://schrts.co/QdIaJiCs
Back testing small H&S neckline – maybe not the bottom trend line
http://schrts.co/AIJrFbhE
Yes, I agree dollar is down the daily chart, but it hasn’t failed on the weekly yet.
Hi Fully,
Yes. That line broke. That’s the yellow one on my chart.
Look at my white line though: Kind of a shoulder channel. It’s not broken. I don’t think it will until about 6 years from now when the real collapse brings it back through…
Mike Oliver flagged the dollar broke down on weekly charts two days ago. Expect price to follow … although it already is.
Also see here: https://blog.smartmoneytrackerpremium.com/2019/06/dollar-collapse-3.html and here: https://blog.smartmoneytrackerpremium.com/2019/06/dollar-collapse-update-2.html
There is nothing bullish about the dollar.
Greg weldon in his interview recently on macro voices said that 95.02 is the number to watch for. A breech of that and the $US play is to the downside.
Yeah, I too made note of that call on one of my dollar charts. Couldn’t figure why Weldon chose that level unless because it was the last thrust of the impulse up move back in late May of 2018. After that the dollar eased into a running correction of sorts.
My Cycle work has the USD headed lower…