Quotable
“The way to build superior long-term returns is through preservation of capital and home runs…When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.”
Stanley Druckenmiller
Commentary & Analysis
Long-term Dollar Uptrend Intact – Weekly Chart View of Major Pairs
The weekly charts below (shared with our forex service members yesterday) continue to support our view the US dollar is in a longer term bull trend against the pack..The charts include wave count, 21- vs. 55-day exponential moving average, and MACD (moving average
convergence divergence oscillator).
Key summary:
- Interesting that EUR/USD & USD/CHF only now entering a 21 vs. 54-week moving average
- crossover, i.e. EUR/USD down and USD/CHF up.
- AUD/USD appears oversold on the MACD; but clearly the trend is down
- GBP/USD following the triangle wave pattern very nicely
- USD/JPY looks to go much higher; looking oversold at the moment weekly.
USDollar Index Weekly
……the Canadian chart & all other currencies can be see HERE
