Our good buddy and Senior Forex Analyst John Forman is calling the bottom of the USD in a post over at Forex Crunch. Forman cites several technical indicators to make his case, including shallow retracement, a Band Width Indicator plot, and low N-ATR (Normalized Average True Range) readings. I'll tease you with one of his charts, but you should check out the whole post at Forex Crunch.
What do you think? Are the days of inverse USD-S&P relations over? Will USD bears start looking like fools with their charts on the ground? Is this a sign of hope in the US economy? As usual, only time will tell. And, if you want more John Forman, be sure to check out his blog, The Essentials of Trading, and his Currensee webinar on using our exclusive Thomson Reuters IFR Markets Widgets.
Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.