The US Dollar: ‘Strength Confirms Strength’ . . .

By G.R. Harrison, Copyright 2018

​As we noted in our last post on the US Dollar, the major trend has just shifted to the upside again as shown on our chart analysis below . . .

As our pivot methods expected a top on Thursday or Friday last week, we expected that a normal price trend turn of short duration was likely to occur. What we found was that, indeed, a spindle top did occur as well as a bottom on the same day! You'll see on the chart below that this was only a brief one-day pause in the march upwards in price for the US Dollar.

The US Dollar's strength is such that it over-whelmed almost all orders to the downside. The Dollar's uptrend re-asserted itself and continued on it's way as if nothing had happened at all. This is 'Stength Confirming Strength' and, an excellent indicator of what lies ahead for this currency to the upside. It also confirms, contrarily, that the EURO is locked into a weakening trend going forward from here. - George

​It also confirms, contrarily, that the EURO is locked into a weakening trend going forward from here. - George