As hot as the euro is and stinky as the dollar is, don’t let it cloud your vision and remember things can turn on a dime.
That out of the way, let’s roll our sleeves up & get down to more dollar-crushing business! I think the dollar rally has legs, especially as other central banks follow suit and lower rates. But I also agree that it is inevitably doomed and await a signal to sell that rally when it starts to fade.
Versus the euro, it is heading toward the 38% fibo retracement and could get as low as the 50%; I’d be surprised if it went lower. But that’s not here or here, that’s me throwing around random thoughts that are moot. The fact is, when it breaks from the channel/flag thing, it’s probably the time for the EUR/USD trend to resume. We’ll keep watching though.
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