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The U.S. Dollar remains inside of a rising channel.
From a short-term perspective the Dollar’s rally has caused many investors to become bullish on the Dollar, reflected by 81% Dollar bulls at this time.
At the same time sentiment is getting crowded toward the bullish side, a rising wedge has taken shape in the Dollar, reflecting a two-thirds chance the Dollar moves lower for a while!
I see the wedge, and I know the banks can do anything (except make politicians stop eating the private sector)but isn’t it a bit interesting that other than food, commodities, including the money metals have continued to lose price value despite massive printing activities? Dollars are needed for governments to pay bills (for now)and with tightening credit and Baby Boomers shunning credit and spending, and taking money from the money supply, couldn’t the dollar take off?
Just a muse,,,