The US Dollar: Sometimes, a failed pattern says more...
Sometimes, a failed pattern (in this case a descending triangle breakout to the down side) says more about the next possible move than the pattern itself.
It is early days yet, however after the relentless sell-down since March, this may mark a short or even medium term bottom for USD.
Interesting how this turn of events coincides with most other markets - equities, previous metals, oil, cryptos - all turning down, adding weight to the "all-the-same-market" thesis.
The weak Dollar trade has been a one way ticket up for all other assets... now a strengthening Dollar may spell trouble for them.
Again, it's all about the Dollar....
It is early days yet, however after the relentless sell-down since March, this may mark a short or even medium term bottom for USD.
Interesting how this turn of events coincides with most other markets - equities, previous metals, oil, cryptos - all turning down, adding weight to the "all-the-same-market" thesis.
The weak Dollar trade has been a one way ticket up for all other assets... now a strengthening Dollar may spell trouble for them.
Again, it's all about the Dollar....