Note: Posting will be light over the next couple of days as I hit the road.
Here is the US dollar index as of a few minutes ago. This week it has failed what was weak looking support once again. This came after a Death Cross of the SMA 50 below the SMA 200. That would theoretically guide USD downward, but the reality is that Death and Golden Crosses are often met with a snap back in the opposite direction to the one implied by the cross.
In that event, Uncle Buck has some layers of resistance – most notably the ones containing the moving averages – above, should it decide to bounce and screw with those acting directly upon the cross.
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