Hold up. Nothing goes straight down forever. America, under the guidance of Donald Trump is actively seeking out its bananahood, but the technical and sentiment situation has become extreme.
I don’t know, you tell me. Is Uncle Buck able to bounce? Here is the DXY making a big candle from an oversold point. I shorted the Euro a few days ago and pressed that short yesterday. Today it’s doing well.
Part of the reason I shorted the Euro was this sentiment profile for USD (as presented in NFTRH 613). The Euro has obviously been set up opposite. Way over loved by casino patrons on the run from Uncle Buck’s fate. “Great Again” America will likely go bananas in due time. But for now risk vs. reward favors a bounce in the buck at some point soon if it’s not already begun.
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