US Dollar Breakout Is Upon Us

After reviewing numerous currency charts over the past few weeks, it is becoming clear that the market is at a major inflection point.

Based on the Technical Analysis of the Canadian dollar, Japanese Yen, British Pound, Australian dollar and Euro, it seems that the time for a breakout of the US dollar is now.

Consider the Chart:

At this time, we can expect a breakout to the 84 level, some consolidation, a back-test of the green trend-line, and then a push toward our upper target of 88 to 89.

If this plays out as expected, awe can look for a significant correction in the stock market, and renewed interest in bonds.

TLT looks like a good bet here at 118 currently with potential of 129 to 130 by the time the US dollar hits the 84 mark.