USD Q2 2021 Technical Forecast

It was a bizarre beginning to a New Year for the US Dollar, but given 2020 I’m not sure how surprising it should be. The US Dollar came into 2021 after a very clear and strong one-sided trend enveloped the currency for the final 8 months of last year. Around the 2021 open, the US Dollar was flashing oversold conditions while also working on a falling wedge formation, which is often approached with the aim of bullish reversals. As I had written in the Q1 Tech Forecast for the US Dollar, I did expect a counter-trend move to show up on the basis of that context. But where I went wrong was my expectation that a … (full story)

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