Are US Dollar and Euro Currencies Creating Double Tops and Bottoms?

Sharing is Caring!

by Kimble Charting

The U.S. Dollar and Euro currencies are two of the most-watched in the world, with the U.S. Dollar being the world’s reserve currency.

Today’s chart 2-pack highlights a critical inflection point for both currencies. Should King Dollar change course, it would be a big deal across multiple assets…

Seeing Double?

As you can see in the chart below, the U.S. Dollar and Euro look like mirror images of each other. But what’s important right now is that both are seeing double… that is, both are forming double bottom/top formations.

See also  Warning Sign: VIX Spike Continues Plus Dollar Index Rally Signal Over Leveraged Trades Blowing Up?

The U.S. Dollar has formed a double bottom (potentially bullish) while the Euro has formed a double top (potentially bearish).

King Dollar is testing double bottom resistance, while the Euro is testing double top support. Investors should watch carefully… if the Dollar continues higher and the Euro lower, it would effect trading across assets and shake up the financial markets a bit. Stay tuned!

See also  Fear? The Omicron Variant Isn’t Scaring Treasury Investors (Treasury And US Dollar Swaps Curves Calm After Friday’s Flattening)

This article was first written for See It Markets.com. To see the original post CLICK HERE.

331 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.