Critical juncture for the US Dollar

The years long USD up trend may soon be confirming that things are changing in global markets as the Fed is no longer the only major Central Bank in tightening mode.

Technically the probability of this coming support (DX chart below) failing is high as we now have a lowered ceiling given that DX was unable to reach it’s past resistance on the December 2016 spike. Breaking support with a subsequent retest as resistance would be bad news for Dollar bulls. Such an obvious confirmation such as this could get volume piling against USD fast and hard.

Below is one of the many 0dd-ball commodities i am seeing confirming inflationary clouds on the horizon possibly under the guise of USD weakness. Orange Juice futures..

Both charts being overall up-trends with one big difference. USD WEAKENING within the trend and OJ STRENGTHENING within the trend.

USD INDEX FUTURES

usd-vs-oj

ORANGE JUICE FUTURES

orange-juice-futures

 

 

 

 

The best charting teacher I know:
The Morning Analysis Service by Paul Coghlan
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