Will the US Dollar Finally Break Its Long-Term Downtrend?

by Bespoke Investment Group

While the dollar has rallied nicely off of its lows over the past month, it hasn't done much to change global sentiment that the currency will continue to trend downward for the foreseeable future. But how does the currency look from a technical perspective? Below is a one-year chart of the US Dollar index. As shown, the index recently broke through the top of its short-term downtrend channel, but it still has a bit farther to go before breaking above its long-term downtrend channel. A few more days worth of gains and it will get there though.

See the original article >>