Clearly, if you listen to the carnival barkers and hucksters on TV, the necropsy of the US dollar is about to begin.
Hogwash and balderdash, I say!
Even with the most conservative of estimates, the long term technical prospects of a dying dollar don't present themselves even upon cursory exploration.
The long view takes into perspective the dollar’s relative weakness since January. But if anyone would take the time to zoom out, just a smidge, it actually has been part of a larger, corrective bullish pattern going back six years.
This decline so far, from a 103.82 peak to a recent low at 95.47, has yet to exceed even a single prior low. That's what is normally called support.
Any decline further would need to continue all the way to 78.91 to diminish the bullishness of this chart.
All of the above suggests that the long-term-bullish case deserves some benefit of doubt despite current weakness.
Best case scenario: summer gives us a decline, but if and when it reaches ~92, near the May 2016 bottom, we could see the best buying opportunity in more than three years.
Hogwash and balderdash, I say!
Even with the most conservative of estimates, the long term technical prospects of a dying dollar don't present themselves even upon cursory exploration.
The long view takes into perspective the dollar’s relative weakness since January. But if anyone would take the time to zoom out, just a smidge, it actually has been part of a larger, corrective bullish pattern going back six years.
This decline so far, from a 103.82 peak to a recent low at 95.47, has yet to exceed even a single prior low. That's what is normally called support.
Any decline further would need to continue all the way to 78.91 to diminish the bullishness of this chart.
All of the above suggests that the long-term-bullish case deserves some benefit of doubt despite current weakness.
Best case scenario: summer gives us a decline, but if and when it reaches ~92, near the May 2016 bottom, we could see the best buying opportunity in more than three years.
