Dollar bull market over? Or best buying opportunity in a year?
It's been 380 days of nothing but blue skies and uptrends for the US Dollar.
However, starting in September the character of this uptrend started to shift shapes with large range down days and a series of lower highs. Now here we find ourselves 9% from highs and breaking below the 200SMA for the first time in over a year.
What's your bet — the best days for the Dollar are behind us, or is this one of the best buying opportunities in a very long time?
I tend to think the latter, but it could take some more time/pain.
However, starting in September the character of this uptrend started to shift shapes with large range down days and a series of lower highs. Now here we find ourselves 9% from highs and breaking below the 200SMA for the first time in over a year.
What's your bet — the best days for the Dollar are behind us, or is this one of the best buying opportunities in a very long time?
I tend to think the latter, but it could take some more time/pain.
Evan Medeiros
Founder, Trade Risk
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Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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