‘Dollar Update’ Archive

King Dollar could be creating unhealthy bearish pattern!

dollarformingbearishdescendingtrianglepatternjune29CLICK ON CHART TO ENLARGE

The current news addiction of late revolves around Greece, closely followed by how the Euro will react this situation.

Taking a step back from the Greece noise, I wanted to take a look at the price action of the US$ over the past few months.

The US$ looks to have …

US Dollar forming a bubble?

usdollarbubbleatlongtermresistancejune17CLICK  ON CHART TO ENLARGE

The US Dollar’s strong rally that started last July hit a resistance line, that dates back to the 1980’s, which so far looks to have stopped its strong upward progress.

Has the US$ formed a bubble? Humbly, I don’t think that is the issue. What the US$ does at this …

King Dollar bouncing off long-term support?

dollarsupporttestjune1CLICK ON CHART TO ENLARGE

Almost 90-days ago the US Dollar was dealing with a 14-year resistance line that dated back to its all-time highs in 1985, around the 95 level. It pushed above this resistance line and closed just above the 100 level on the week ending 3/13/15. Since then the US$ has backed …