So I came home yesterday from running errands, to find an otherwise ‘reputable’ (please notice the quotes) financial news station broadcasting, and speaking about a ‘crisis and slam lower in the U.S. Dollar’.
Now as they were discussing price action for a short period of time, and knowing that I simply cannot be plugged into the markets 24 hours a day (I have to sleep you know), I think …
Man, did I miss an overight move? Did I miss something throughout the day?
So I pull up a chart to find …
U.S. Dollar Index – 4 Hour Chart
I don’t really see a ‘slam’ lower here. I mean, it seems to me to be a normal continuance of a short-term trend (note we are discussing a four hour chart here).
So not thinking much of it, I go to bed. To again, wake up this morning to find this same otherwise ‘reputable’ (again, please note the quotes), financial news station talking about the dramatic move lower in the U.S. Dollar.
So again, I bring up a chart …
U.S. Dollar – 4 Hour Chart
Again, normal continuance of a trend. Actually, it hasn’t moved around that much from yesterday.
Now forgoing the moves of March 11, 2015 that I’ve pretty much been nailing the U.S. Dollar trade for years … I ask …
What crisis in the Dollar moving lower?
Every corporation from Apple (AAPL) to IBM to Microsoft (MSFT) has been begging and pleading for a lower U.S. Dollar. Have these people never heard of a correction? Speaking of correction … lest we forget, if we pull back to a weekly chart …
U.S. Dollar – Weekly 15 Year Chart
The U.S. Dollar is still higher than it’s been since 2003 !!!
WHAT STINKING CRISIS IN THE DOLLAR ‘SLAMMING LOWER’ ARE YOU TALKING ABOUT?!
Good grief, is someone allowing the news anchors near trading platform’s again?