Updating the USD 'battle of the trendlines'

I posted final month on what appeared, to me, to be the top of the US greenback uptrend:

• The steep up pattern line for the USD seems to have been damaged

One of many traps that some of us fall into is that if an uptrend breaks then we should be in a downtrend.

Do not ask me how I do know this entice 😉

In that put up a month in the past I cautioned in opposition to assuming a downtrend, and even identified a horizontal help line the greenback was resting on:

• I’m suspecting that whereas the steep uptrend is over, it’s going to faf round for some time earlier than establishing its subsequent route.

Which is what we obtained.

However now it seems weaker, pic beneath. BTW, I additionally identified in that linked put up above (you actually ought to test it out) that first yr of Trump’s Presidency #1 was a downtrend for the USD. Right here we go once more?

I am certain ForexLive merchants on the market could have higher concepts on this me, put up ’em within the feedback please!

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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