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USDOLLAR trade ideas

US Dollar: Mind the scallopsScallops are broad patterns as shown in the chart. Whilst de-dollarisation is happening at a slow macroeconomic pace, coming from Russia, China and Japan (largely), it doesn't mean that the US Dollar will simply roll over. The pattern of the scallops is quite visible. Now the US-Dollar is at a critical point and making attempts to do another scallop. I don't assume that each scallop will be less prominent than the previous. Overall the trend from April 2018 seems to be weakening but I make no assumptions that in the short term (next few weeks) the US-Dollar will not bounce north. US-Dollar strength is broadly inversely correlated with commodities, metals and US-stock-markets - whilst affecting the strength of other currencies indirectly. The pattern is useful in terms of assessing other positions in the markets both on Stock Markets and Forex.
FX:USDOLLAREducation
by Captain_Walker
2