Thursday, 3 August 2017

USD: Setting Up a Rip-Your-Face-Off Rally or in Freefall?

of two minds-Charles Hugh Smith:

There's not much to encourage Bulls in the daily chart of the USD.
The U.S. dollar's relentless decline this year poses a question: is the USD setting up for a monster rally, or is it in a slow-motion crash? Opinions vary, of course, as to the possible reasons for the massive decline: European growth is better than expected, Trump's presidency is going nowhere, the Federal Reserve won't be raising rates, and so on.
The nice thing about charts is they summarize all these inputs into a snapshot. So let's take a look at the daily and weekly charts of the USD.

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