The US Dollar hasn’t done this in 10-years, as it breaks from 10-year falling channel (see post here) and stocks keep moving higher. What is up with that?
I feel like phoning my friend Ben and asking… “What he heck is going on here???”
CLICK ON CHART TO ENLARGE
Dollar breaks 10-year falling channel and the Euro is breaking down…do we risk on or risk off based upon the message from the Dollar/Euro? Should we believe the messages coming from these currencies of late?
What about the message from the Australian $ these days? The AU$ finds itself on a multi-year support line at (1) in the chart above, which is usually good per the risk trade! Could the next big move in the AU$ be the real truth from the currency markets, in regards to the risk on/risk off trade?
Don’t lose sight of the macro message that will come from the next big move from the AU$!!!