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Is U.S. Dollar Nearing Bottom? Or Is It Different This Time?

ByChris Kimble
Published 08/05/2020, 01:54 PM

The U.S. dollar ran into a perfect storm in 2020: a pandemic, an easy Federal Reserve and trillions of dollars in government stimulus.

The result has been a steep decline in the greenback.

Looking at today’s chart, however, suggests that the U.S. dollar may be nearing a bottom. That is if recent history proves true.

The dollar is testing its nine-year bullish up-trend support at (1) and U.S. dollar bulls are disappearing. In fact, investors are the least bullish on the U.S. dollar (20% bulls) since 2011 at (2). Notice that each time the dollar tested support with few dollar bulls, it rallied higher.

Time for a rally? Or will this time be different?

Latest comments

It's extremely oversold and is Hated.. Great time... Is US Pain is mirroring in greenback..
You dont even know how to draw a line?
I don’t know Chris, why don’t you tell us???
so wat is the moral of the story. basically u are asking readers back ???
The trend line u have drawn is not correct
Does it even matter? Our Fiat vs the Fiat currencies of other nations when all countries are printing more and monetizing their debt. It may be time to value the $ and other currencies against hard assets and commodities. Beef is up 50% against the $ for example. That's painful in a no raise no interest environment
Spx gap window fill today, potential cash vix gap window fill, dollar testing 9 year support, non-farm payroll numbers horrifying. I mean the list goes on. But all i can say is brrrrrrrr. No point in seeing a set up if papa powell will smack you in the hand with your hand in the cookie jar.
Let's hope that the trader redneck007 is succesful with jordz hedged funds in growing the numbers more intrinsic instead of OVed INF bonds or IA watch nano IPOs 3 yrs. Just rem that even jordz can't control an emp in that scene Rio then invest in your self im getting out before trump and the Saudis open so many more funds that are backed by AAA aa a bbb all that ******will be garbage
This is the end game. Everybody prepare.
Rally!
Interesting! A dead dollar bounce can't be denied
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