King Dollar Creating Double Top This Week?

By Chris Kimble / November 01, 2018 / kimblechartingsolutions.com / Article Link

CLICK ON CHART TO ENLARGE

This chart looks at the King Dollar over the past 10-years. It remains in a long-term uptrend, creating a series of higher lows and higher highs inside of rising channel (1). King$ has spent the majority of the past 3-year trading sideways between 90 and 105.

In August King$ created a weekly bearish reversal pattern and sold off a small percentage (3%). The rally over the past 5-weeks has it back at August highs, where it could be creating another bearish reversal pattern this week at the August highs.

Sentiment for the US$ currently stands at 77% bulls, as a good deal of investors are confident it will rally.

Metals bulls would love King$ to be creating a double top this week! Potential important price point in play for the Dollar and metals!!!

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