The dollar broke out and came back in
While everyone is saying the dollar is finished, it has just made a bullish breakout with a reversal.
Its upside target is still intact, so if it confirms that breakout and does not cancel it, the dollar can strengthen over the coming months.
The decision
This breakout arrives in a fairly worrying macro backdrop, with other assets — bonds, gold, bitcoin, a range of equities — lining up for a correction, in the classic chain where bonds rise, the dollar rises, and equities and risk assets fall.
We are watching how it develops.
Read the full thesisSourceYahoo Finance, cross-checked against EODHDData to
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