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The U.S. Dollar has been pretty much absent from the headlines of late, due to lack of movement and other products grabbing the spotlight, such as Golds decline this week. The Dollar continues to find line (1) to be very stiff resistance over the past year and has made several failed attempts over the past few months to “close above this line, on a weekly basis!“
The Dollar is getting trapped between support line (3) and resistance line (1). Not sure what will break the Dollar from its multi-month go no-where pattern, yet remain of the opinion that if the Dollar does succeed in closing above line (1), I will want to own the breakout.
About the time a key asset/product becomes boring and overlooked, is when it is close to a big move….be ready to follow a breakout if it takes place!!!