I’ve been barracking for the US dollar bull market for a year now and today we appear to be approaching a new inflection point in the rise:
Roughly speaking the US dollar has formed a bullish ascending triangle chart pattern and looks ready to test the upside. It’s no wonder, quite frankly, given the economic weakness and monetary easing that’s going on everywhere else with:
- European QE;
- UK ZIRP;
- Japanese recession and failed Abenomic;
- China’s glide slope, rate cuts and falling yuan
- dragging on emerging markets.
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