Keep an Eye on Uncle Buck

The green dot shows where USD is projected to open this morning (95.55). In other words, it’s under control. No problem, the bounce is very normal and within the short-term downtrend.

But USD is in a series of higher highs and higher lows off of the Q1 2018 bottom. Its 50 and 200 day SMAs are both sloping up and the March low began from very valid long-term support.

Oh and there is also the slight detail that Uncle Buck has been in a bull market since the 2008 low, which was tested successfully during Q1 2011’s inflation hysteria, which summarily blew out in a blaze of hype and bombast (“silver to $100/oz!”“OMG, Bill Gross is SHORT THE LONG BOND!!!”, etc.).

Anyway, if USD breaks it breaks. But all a charting automaton can tell you now is that it is most assuredly not broken.

usd

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