Traders have created a rather large “fish mouth spread pattern”again in the US dollar Index. In the past this fish mouth spread was spot on in suggesting that a Dollar rally was close at hand…Will the results be any different this time?
So says Chris Kimble (http://blog.kimblechartingsolutions.com) in edited excerpts from his latest blog* entitled Traders position is suggesting a strong U.S. Dollar rally is close at hand!
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Kimble goes on to say, in part:
The same fish mouth spread took place in 2009 and 2011, resulting in large U.S. Dollar rallies. Currently another large spread is taking place [see graph below] amongst traders, while the U.S. Dollar is near rising support and only 32% of investors are bullish the Dollar. Will the results be any different this time?
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