For months now I have been covering, and following, the dollars plunge-but it appears we may be at a point where we get a "technically over sold" bounce.
By every technical measure you want to look at, the US dollar is way over sold, and as I have been speaking about as of late-we should all be expecting a short term rebound.
I expect, in the short run, that we will see a US dollar rebound however I also believe this will be short lived.
Both the Trump administration and the federal reserve want a weak dollar, as a weak dollar is stock market supportive however, it also hurts the consumer.
**Question: how many of you find it odd or contradictory that consumer sentiment is supposedly higher meanwhile, consumer spending is down? Strange isn't it...
In summary, the US dollar is technically way over sold, and a bounce higher here is very likely in the short run.
Gregory Mannarino @marketreport
