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Monday, 25 June 2018

The US Dollar: 25 June 2018, Monday, 12.12am Singapore Time

The US Dollar: 
25 June 2018, Monday, 12.12am Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Long Term Technicals for the US Dollar (USD Index). The entire technical price action flow shows how the USD had made the black support band become the black resistance band in 4Q-2017. In 1H-2018, the USD is making a treacherous backtest of the black support-turned-resistance band to confirm its newfound long term downtrend. The USD is hitting Super-Resistance now (refer chart). It comes at a time when Donald Trump's administration cannot afford to have a strong USD erode the specially crafted Trump policies (trade tariffs, exports, jump-start of Made-in-America, etc.). The Trump administration will have to gear the USD back down soon, otherwise the tariffs will have limited impact and even look silly. This will re-ignite the super-cyclic boom for commodities and commodity stocks worldwide (including crude oil).


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