Courtesy of Chris Kimble
CLICK ON CHART TO ENLARGE
Any good news about the Dollar taken place of late? Pretty hard to find for sure! Since the first of the year, the U.S. Dollar has declined around 7%. The Dollar has created a potential bullish falling wedge during the 100 day decline, at a prior support line.
With the broad market facing falling overhead resistance (see post here) and Bonds looking to have created a pattern that suggests higher bond prices and lower yields (see post here) and the NDX 100 facing its long-term Fibonacci 38% retracement level (see post here) an upside breakout in the U.S. Dollar could have numerous ripple effects to a variety of assets!
