Let’s make no bones about it. The US dollar has been weak and degrading during the Q4 seasonal macro bounce party. Despite the ugliness the yellow shaded area (June low) on the index is the kill zone for Uncle Buck. It currently resides above it.
With the SMA 50 about to cross below the SMA 200, the financial media about to trumpet a USD DEATH CROSS!! and even one of the gold flippers, most recently of 2 Gold Bears fame, now back to big time bullish on gold because he’s bearish on the buck, there is a scenario in play for Q1 that may not play to script regardless of whether or not Unc takes a dirt nap for real sometime in 2020.
Meanwhile, here is a currency looking pretty constructive lately as USD goes the other way.
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