Monday , 17 June 2024

It Appears Investors Are Losing Faith In the U.S. Dollar

The U.S dollar is the king of the currency markets but recent trading patterns suggest that if King Dollar doesn’t reverse higher soon, it may be an indication that investors are losing faith in the US Dollar.

As you can see in the chart below,

  • King Dollar has made a series of higher highs while maintaining its up-trend line at (1) for the past 9-years.
  • Over the past 3 year, however, the Dollar may have created a bearish “double top” pattern.
  • Since the second peak in 2020, the Dollar has fallen sharply and is attempting to break its 9-year trend support line at (2).
us dollar index double top pattern bearish decline ahead chart image july 27

The decline has sent effected dollar-sensitive assets, such as precious metals prices, higher. Stay tuned!


Editor’s Note:  The original article by Chris Kimble has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read.  The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.  Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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