Dollar Nearing Bear Market Recognition Moment
The dollar is getting closer and closer to that recognition moment when the market realizes that a bear market has begun. It’s now making lower highs and lower lows. The next step will be to break the intermediate uptrend line. After that will come a break of support at 92. That should usher in some kind of waterfall event as all the trapped longs finally understand that the fundamentals are not bullish for the US Dollar. After printing literally trillions of them over the last 6 years I have no idea how anyone could – with a straight face – say the fundamentals are bullish. There has to be consequences to the Fed’s insane QE programs.