USD breaking down – But is this a terminal thrust?
The USD is breaking down. And I expect a little more USD weakness But… This puts all dollar traded currency pairs back into severely overbought territory.
I am a bit of a contrarian. I would ask the question this week of; When is too much just simply "Too Much"?
I would not be surprised if we see a blow off and reversal some time this week or next. Good trading.
USDIndx – Watch for action around this triple bottom.
EUR/USD – Will this pair triple top? or break out?
GBP/USD – Searching for a new top?
USD/CAD – Getting into oversold territory again.