On Monday the “Power of the Pattern” reflected that the U.S. Dollar was making an attempt to break above its “Cup & Handle” resistance line (see post here) Below is an update to Mondays chart.
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A long-time ago, a Dollar rally had some influence on risk assets. Is that situation no longer an issue?
The move above line (1) at (2) is too small to be called a breakout at this time. Should this breakout continue to the upside of line (1), it the has potential to be a real positive for the Dollar!