USD is technically bearish, and the FOMC just announced something fundamentally bearish ($85 billion in unsantitized printing and monetization). So of course Uncle Buck gets a contrary jolt this morning. There is always the Fiscal Cliff after all.
I am never afraid to point out bullish looking technicals on USD. But this morning I cannot do such a thing, USD bounce or not. USD is bearish below 80.60 or so. Weekly charts by the way, continue to look ‘not good’ as well.
If USD surprises everybody against the odds, good for Uncle Buck. But the chart as currently constructed, sucks.Add to SocialTrade