Bears Could Be Targeting the U.S. Dollar Again

The U.S. Dollar has been stabilizing all year, but now the bears may be returning to their old hunting ground. Several features have appeared on the greenback’s chart, and none of them are bullish . First, consider the rising trendline running from the low of January 6 through April 29. Notice how DXY broke under it on May 7 and then failed to return above it the following week. That’s looking like a bear-flag breakdown. Next you have the series of lower highs (white arrows) on September 25, November 4 and March 31. The final peak also coincided with a test and failure of the 200-day simple moving average ( SMA … (full story)

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