Dollar Snapback: From Widely Hated to Painfully Ripping

King dollar

On July 1 (here) we pointed out that the dollar had sold off too much and was setting up for a snapback. The DXY has broken above the negative trend line since then. Note we also took out the 21 day moving average, and are attempting the 50 day as of writing. A "proper" close above the 99 area, and the dollar squeeze risks going into "overdrive".