Turned Bearish on the US Dollar Monday

We just turned bearish on the US dollar from a bullish stance, but I didn't pick up any entry signals in both London and US pre-opening sessions. Thus, we will stay on the sideline at the moment till we gauge further the market technical outlook by the end of the day.

Here is another good reason to take a pause:

There were mixed signals on the dollar outlook as indicated by the Trend Scores.

The following major pairs have been out of sync for quite some time. The US dollar is clearly at crossroads.

Trend Score for EUR/USD: (+75) Uptrend
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend.

Trend Score for GBP/USD: (-75) Downtrend
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term downtrend.

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