The U.S. Dollar is Bending, but Will It Break?

Mike Paulenoff MPtrader

The elephant in the trading room this morning is the U.S. Dollar (DXY).

Let's take a look at the nearer-term DXY breakdown below a key Feb-May support line at 98.40, but the real story is embedded in the weekly DXY chart, which shows that the price structure is pressing on a two-year up-trendline, the violation of which could have meaningful consequences for the financial and commodity markets.

Author

Mike Paulenoff

MPtrader

Michael Paulenoff has been a student of and a participant in the world financial markets for the past 26 years, since his graduation from the Georgetown University School of Foreign Service in 1979.

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