The currency markets are among the largest in the world. And when the reserve currency U.S. Dollar makes a big move, other assets listen (and respond).
Seems like something similar is occurring right now.
Today’s chart 2-pack takes a look at “monthly” charts of the U.S. Dollar and Euro.
Could King Dollar be breaking out while the Euro breaks down?
The U.S. Dollar is breakout out of a bullish double bottom pattern at (1) and appears to be headed higher. Meanwhile, the Euro is breaking down from a bearish double top pattern.
Perhaps it’s time to be aware of the implications for a stronger dollar / weaker euro. These moves will have implications for equities, bonds, and commodities. Stay tuned!
US Dollar vs Euro “monthly” Currency Chart
Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to firstname.lastname@example.org for details to get set up.
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.