Possible Dollar Weakness?

Today was the first day in a while that showed possible dollar weakness. Technically, the dollar is still within its bullish vector that has held up the currency for a couple of months. So there is no urgent need to exit any bullish dollar positions just yet. But if the price drops below the price channel, then I would begin to worry.

Even though the picture is still bullish, there are small signs of potential weakness. There are signs of a potential leg down in the technical picture. Based on the current trend, today was the weakest day that the dollar has had in several weeks. It would be wise to keep close eyes on the dollar if you have any long positions. There may also be a potential short opportunity in the picture very soon.

And always remember, dollar weakness is generally bullish for equities. Investors in the dollar will typically move their money to other areas, like equities or gold, when the dollar is trending downward.

As always, I am not a financial professional, and this is not investment advice. Be careful and be patient. Dont anticipate the market. Rather, participate in the market. Don't invest money that you can't afford to lose. Give some of your investments time and know when to cut your losses.

Don't be greedy. Don't invest in anything you don't understand. Don't put all of your eggs in one basket. Don't listen to the hype. Don't fomo or panic into or out of trades. Do your own due diligence. And just follow the trends. A trend is your friend. Good luck trading.