NFTRH+; USD Daily Chart Paramters

As originally anticipated could happen (ref. July 19 video update, regarding the initial clear resistance/breakdown area): “USD can break through it, test the SMA 50 and still remain in a downtrend.”

Today USD is testing the SMA 50. This is the preferred area to keep a solid bearish near-term view of USD. I have numbered the upside objectives and USD is at #1 and still firmly daily chart bearish. #2, which meets the SMA 200 also keeps USD bearish, but anti-USD players raise the caution levels at that point, and then if it takes out #3, it will have been a bear trap breakdown, much like gold did in Q4, 2022 (this would be a compressed version, as gold did its thing over a longer and more volatile period).

The final point is that the long-term charts of USD are and have been showing a completely intact long-term bull market. All the daily breakdown situation would do is spring an asset market rally that in my opinion would be temporary, but tradable. The numbers on this chart show the areas that must hold in order to keep the ‘anti’ trades going, and I am personally not going to wait for a test of #3 before doing some selling if 2 gets taken out. Indeed, it would be best for the buck to just do this normal test of the SMA 50 and stop there. If not, my patience will not hold true because I only see commodities/resources/EM, etc. as an interim thing. Not a bull market.

Bottom line and speaking personally, I want to see this normal test of the SMA 50 hold as the show stopper for Uncle Buck’s revival show.

Now let’s see what the market decides. Here is the thing, if USD has bear trapped and reversed upward for real at least we may proceed on with the coming macro changes sooner rather than later.