US Dollar looks to be recreating the pattern that started this pennant. See the candle pattern from the red box and overlay it currently in gold. This could be how it plays out. Everything fits. Get ready to go GOLD
Commentaire:
Although we have a break above the trend line, and positive divergence in the TSI, I feel the cycles support a drop in the USD. I see the RSI and %R both way overbought. Its time for the US Dollar to drop. I see this a technical shake out.
Commentaire:
The USD cycle is getting over extended, at 40 days, thats longer than normal. The RSI and %R are both overbought. I expect a drop any day.
Commentaire:
US Dollar at the 1.27% FIBO point and the upper trend channel line. 47 days into the cycle, its due to plunge here.
Commentaire:
Measured move to the 1.27% Fibo was spot on. Now looking for the golden candle pattern to fill.
Commentaire:
USD playing out perfectly. Oversold right now, so we may get a bounce, but will eventually fall further.
Commentaire:
Dollar could be forming a Bullish Bat harmonic pattern. Can't happen soon enough