It seems the market is nearly perfectly correlated to the $USD right now, which in intraday terms is experiencing a bear flag. Now I know the chances of an upside breakout from a bear flag-the opposite of what is supposed to happen, is very high, I do not know if that same rule of thumb holds true for currency markets. I'd think there are more sophisticated investors in the currency markets, but who knows. So we have a bear flag, which way does it break?
Correction, there's a bull flag in the dollar, a bear flag in the market.
5 years ago
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