Greenback's Weekly Technical Condition Suggests Medium-Term Trend has Changed - BBH

Analysts at Brown Brothers Harriman explained that the dollar's technical tone is nuanced. 

Key Quotes:

"The short-run advance may have a bit more room to extend, but many of the daily technical studies are getting stretched.  

However, the technical indicators of the weekly bar charts are considerably more constructive.  

The general takeaway is that we suspect that the combination of the German election results, increased likelihood of another Fed hike before the year, and extreme short dollar positions have changed the bias toward buying dollar dips instead of selling rallies.  

This has not been the case at least since late April when it became apparent Macron was going to defeat the National Front in France."