did not see any threads or talk on the USD, so here we go.
Looking at the daily USd Index chart there are signs emerging that the current trend down is running out of puff.
support has been found on a previous high in the form of a double bottom. The trend angle it was runing on has changed with that older sharper angle becoming support for the new.
The current double bottom forming is actually turning the price to the beginning of a range. This has happened twice before in the mid section of the trend. From the rounding of the current price action this has a different feel about it.
The current trend now is no longer a normal trend, it's now classified as a creeping trend these can be a set up for a change in trend.
IMO for this to be valid 74 - 74.5 has to hold as support or look out 72-71
with a hold of support we could see a range develop. I personally favor a rally to 78 -79 as the risk appetite markets are also looking very fragile at the moment, with the exception of GOLD (not really a risk appetite).
time will tell
Looking at the daily USd Index chart there are signs emerging that the current trend down is running out of puff.
support has been found on a previous high in the form of a double bottom. The trend angle it was runing on has changed with that older sharper angle becoming support for the new.
The current double bottom forming is actually turning the price to the beginning of a range. This has happened twice before in the mid section of the trend. From the rounding of the current price action this has a different feel about it.
The current trend now is no longer a normal trend, it's now classified as a creeping trend these can be a set up for a change in trend.
IMO for this to be valid 74 - 74.5 has to hold as support or look out 72-71
with a hold of support we could see a range develop. I personally favor a rally to 78 -79 as the risk appetite markets are also looking very fragile at the moment, with the exception of GOLD (not really a risk appetite).
time will tell