While the US Dollar has been rejected exactely where it was supposed to a few days ago (Click Here). There is a possibility now to see a mini inverted head and shoulders bottom that could enable the US Dollar to finally break that long term resistance line. That would be a game changer for sure !!
The rally in the US Dollar killed commodities this week. It does not yet look like a sustainable turnaround for the greenback ! Just an oversold bounce that is likely to fail at resistance. Honestly .. I wouldn't feel very comfortable here pressing shorts on commodities at this point .. just my 2 cents !
Be ready for the death spiral of the US Dollar starting now ! I think UUP will decline 10% in the next two to three months. Be ready .. don't be shy , short that UUP down to $18.50. I would buy UDN (Short UUP) !! The fall of the US Dollar should start picking some speed imminently !
Welcome to the destruction phase of the US dollar for the next months. The chart of the US Dollar ETF looks miserablly bearish ! I suspect UUP will get as low as $18.50 before the big bounce that will crush ALL asset classes !
