King Dollar at 11-year resistance and 77% bulls
Are we witnessing some “crowded and uncrowded” trades when we take a look at the currency markets?
The U.S. Dollar has rallied a few percent higher over the past two months, taking it up to an 11-year falling resistance line. The rally has seen the bullish percentage increase to 77%.
The Swiss Franc is on 13-year support with just 25% of investors bullish at this time. Also note the decline in the Euro of late has impacted sentiment too, just 22% bulls.
Are we seeing currency extremes in play? Stay tuned, what happens from here in the currency markets could impact many portfolio positions going forward!
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