U.S. Dollar IndexUpdated Dollar Strength Channel Revised and Intact 7/27/2020
Dollar strength at the monthly.
I looked into one of my mentor's charts. I had the wrong angle from 2011 all the time. I was charting it by the weekly. The dollar thinks in a bigger time frame. So I had to look at from a monthly. When I connected the candles from years ago together, it pointed to where the next support was on the dollar strength.
It turns out the dollar's 9 year uptrend is still intact. Hopefully, this bounce will bring back some volatility.
I looked into one of my mentor's charts. I had the wrong angle from 2011 all the time. I was charting it by the weekly. The dollar thinks in a bigger time frame. So I had to look at from a monthly. When I connected the candles from years ago together, it pointed to where the next support was on the dollar strength.
It turns out the dollar's 9 year uptrend is still intact. Hopefully, this bounce will bring back some volatility.
Note
I will add that if this channel breaks below, this will lead to instability within the financial sector. Furthermore, inflation may skyrocket if the dollar doesn't bounce soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.