Posted by on July 26, 2017 3:48 pm
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Categories: Business Click Currency Economic history of the Netherlands Economy Finance Foreign exchange market stock market Technical Analysis the dollar United States dollar

From 2011 to the start of this year, the US$ has been pretty strong, as it rallied nearly 30% in 6-years. Over the past 30-weeks, King Dollar has been rather weak.

Below looks at the US$ over the past 18-years, with 30-week performance applied-

US Dollar Weekly Kimble Charting Solutons

CLICK ON CHART TO ENLARGE

King Dollar has declined over 9% in the last 30-weeks at (1). As one can see, this sharp of a decline in 30-weeks hasn’t taken place a ton of times since the late 1990’s. The decline has the US$ testing the bottom of a 24-month trading range and two rising support lines at the same time at (2).

This decline has bullish sentiment towards the US$ at the lowest levels in the past three years, according to Sentimentrader.com, reflected in the chart below.

This information is coming to you US Dollar Weekly Kimble Charting Solutons 

CLICK ON CHART TO ENLARGE

With few investors bullish King Dollar at this time and a triple support test in play after a rare 9% decline in 30-weeks, what the US$ does at (2) in the top chart, could become very important for the Dollar and many commodities.

Gold & Silver have not pushed much higher while the US$ has been very weak. This makes the price point in the US$, all the more important to the metals sector, if this triple support test would hold.

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