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Are US Dollar, Euro About To Upend Financial Markets?

The past several months has seen the US Dollar Index rally once more, pushing King Dollar up to a retest of multi-year highs. At the same time, the Euro…

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This article was originally published by See It Market

The past several months has seen the US Dollar Index rally once more, pushing King Dollar up to a retest of multi-year highs.

At the same time, the Euro has been sputtering and is nearing multi-year lows.

In today’s long-term “monthly” chart 2-pack, we look at both currencies… and a highlight how both are facing monster tests.

As you can see, the Dollar is testing triple resistance comprised of its overhead 25-year falling channel, the 61.8 Fibonacci retrace and its prior highs at (1). A breakout would be major development for the global financial markets.

Meanwhile, the Euro is testing critical support within its falling channel. And a breakdown here would be equally important. But note that it is nearing a seasonal period where it often makes a low.

The entire financial complex of stocks, commodities, bonds, cryptos will be effected if the US Dollar breaks out and the Euro breaks down. On the other, perhaps these areas hold firm and the currencies remain confined within their trading channels.

Looks like the world is “monsterly” important test in the currency markets! Stay tuned!

Euro versus US Dollar Currency Comparison Chart

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Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

The post Are US Dollar, Euro About To Upend Financial Markets? appeared first on See It Market.




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