When Will The Crashing Dollar Be Noticed?
According to the Yield Curve, the reflation trade narrative is finished.
As the Yield Curve stalled Dec 2016 to Jan 2017, so did the topping process of the dollar. Major support level has been violated called the 99.26 pivot, which is now unlocking overhead supply. Downside targets include a S1 94.78 level.
The dollar superiority was a big reason why the stock market soared with a President Trump win. Now it’s a negative divergence.
Even diving into today’s session, the market continues to ignore the dollar descent.