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Is it time for the U.S. Dollar & Euro to change their current trend? My first thought would be “what trend?” Many talk about the big moves in the U.S. Dollar and Euro and I just want to scratch my head and say, “where is the trend?” The above 4-pack highlights that the U.S. Dollar & Euro are at the same prices points as years ago (Dollar resistance and Euro support), with sentiment readings at extremes. Is the Dollar and Euro the only two assets at the same prices points? We are all aware that the Yen is in the news, due to devaluation attempts by the leaders in Japan. Did anyone notice that the Yen and Nikkie are also near the same price levels as they were 6-7 years ago, with Yen sentiment at extremes. The above 4-pack reflects that prices aren’t much different than in the past. With support/resistance in play here and sentiment at extremes, the potential is in place for short-term trend changes in these two key currencies. If the trend does change, some hard hit commodities could do well.
