The rally has taken a breather, with the king of the world’s currency trading sideways in recent weeks.
But there is a reason for this pause, as you can see in today’s “weekly” chart from .
King Dollar hit its 50% Fibonacci retracement level… and stopped in an instant. And the last 6 weeks we have spent trading in a sideways channel.
Breakout or Breakout that is the question.
The resolution of this pattern should send an important signal to numerous asset classes regarding their next intermediate move.
The next big move in commodities and stocks will be greatly influenced by what King Dollar does here.