The US Dollar is doing a rope a dope, it has taken a real beating, it has
yet to show it's hand!
Rope a dope.."The rope-a-dope
is performed by a boxer assuming a protected stance (in Ali's classic pose,
lying against the ropes which allows much of the punch's energy to be absorbed
by the ropes' elasticity rather than the boxer's body) while allowing his opponent
to hit him, providing only enough counter-attack to avoid the referee thinking
the boxer is no longer able to continue and thus ending the match via technical
knockout. The plan is to cause the opponent to 'punch himself out' and make
mistakes which the boxer can then exploit in a counter-attack."..
The UUP is bearish as it is under the brown 1x1. However it is building a
strong pattern. Chart watches must watch this chart, a break above the 1x1
would signal real problems for risk on assets. Are the US Dollar traders 'rope
a dope' the world markets, watching and waiting?
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