What’s Behind The Recent U.S. Dollar Surge
NYSEARCA:UUP, NYSEARCA:UDN Related posts: Behind The Recent Surge In The Steel ETF Behind The Recent Surge In The United States Gasoline Fund, LP (UGA) Consider The Recent Surge In Brazil ETFs A Good Exit Opportunity Is The Recent Surge In Clean Energy ETFs For Real? Recent Trendlines For The U.S. Dollar Index

us dollarToby Connor: A rather interesting development occurred on Friday, and one that I wasn’t really expecting. The dollar sliced right through its intermediate trend line on its first attempt. I thought for sure we would see some kind of pullback from that trend line before a break. In my opinion this signals that there are a lot of people caught on the wrong side of this market.

The ferocity of the first five days out of this yearly cycle low has me wondering if the megaphone pattern isn’t still in play and we’re about to see a test of the upper trend line area over the next 1-2 months.

If we take a look at the euro chart we can see that the daily euro cycle is only on day 12. That implies it still has another 8-13 days before finding its next daily cycle bottom. The dollar should have those same 8-13 days to rally before this daily cycle tops.

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  4. Is The Recent Surge In Clean Energy ETFs For Real?
  5. Recent Trendlines For The U.S. Dollar Index

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