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The US Dollar: “Rumors of My Death are Greatly Exaggerated”

Monday, February 13, 2017 15:10

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news.goldseek.com / By Rambus / 13 February 2017

I would like to update the US dollar as its been testing critical support since breaking out from the nearly 2 year horizontal trading range in early November of last year. The daily line chart shows there was a nice clean backtest about a month later to the top rail which looked like breaking out and backtesting process was complete. After a short rally and making a higher high the US dollar declined once more to the top rail causing a lot of uncertainty for many traders. After a slight breach of the top rail the US dollar is now trading back above that very important trendline. So far at this point there is nothing to conclude the bull market that started in 2011 is over at least accordingly to the daily line chart.

Source: http://silveristhenew.com/2017/02/13/the-us-dollar-rumors-of-my-death-are-greatly-exaggerated/

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