Loading ...US Dollar – Where Are The Bulls ?
Almost 100 a little while ago, now we have a 96 handle. I know I’ve been plugging this chart for a long time now, but until it’s broken to the upside, this is my high probability outcome. Why ? Because of where we are in the Dollar cycle and because it’s what the chart is saying to me. I’ll change my mind if/when the pattern changes. Until then it is what it is…
Perhaps the US Dollar is no longer the best safe haven…
The yen ($XJY) has made a huge upward reversal over the last 3 weeks.
That being said, just like silver and a bunch of other commodities, the declining 400 WMA for $XJY is a millimeter away as of today. Can it punch through first try and never look back? I’m pretty doubtful.