Several US$ instruments have made extensions in the sharp weakness of recent days, which was seemingly encouraged by some intemperate remarks from members of the Trump administration. The existing $ downtrend then steepened and these extensions are the result:
The inference is obvious – the $ will probably not weaken further from here before some kind of pause or bounce. It is worth exploring the long side of the currency and we suggest the $ index as the least problematic candidate to buy.
All signals courtesy of software supplied by our friends at Parallax Financial Research www.pfr.com
