lets revisit the dollar index.
ever since dollar hit a double top at 100 and also the 50/200 EMA produced a deathcross, I believe as well as other technical analysis that I follow that the US dollar has started a bear market.
every counter trending rally has been sold down. and in impulsive fashion.
I cant recall if I posted the dollar chart back when it looked like it was about to breakdown below 94. I might of posted it elsewhere, and had expected the dollar ideally would be to rally and form a right shoulder.
as it is now coming up to some key resistance. RSI has reached overbought and each time pretty much turning it around in full order.
I expect the next big move is down which will help lift the stock market, oil as well as gold.
will this time be any different? I read an article the other day saying one of the most dangerous thought in trading is the notion "this time is different"
well technically dollar looks ready to continue the pattern to the downside, so until the trend changes, I will continue to bet on further weakness which is strength across all sectors
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