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
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