What is it that hath been? that that shall be: and what is it that hath been done? that which shall be done: and there is no new thing under the sun.
Ecclesiastes 1:9, 1599 Geneva Bible
The Inverse Dollar ETF, $UDN, sports a current edge of 1.9%, which we classify as major. This is the second such edge to emerge since the week of 7/11. As any edge > 0% is actionable, we have decided to take this opportunity to bet against the US Dollar.
The last excellent short setup for the Dollar flashed the week of 3/23/20 ($DXY = 103) and was concluded the week of 2/22/21 ($DXY = 90).
Conversely, the Yen, Euro and Pound sport 2.6%, 1.7% and 2.8% long edges respectively, which provide substantial headwinds to further interim Dollar gains.
