Loading ...$USD – Daily
Today the dollar touched the top rail of the rising channel (black dotted trend lines) It has been 8 trading days since the swing low so this may be the extent of its reach for this daily cycle. (Full disclosure – not the cycle guy – its a guesstimate only)
What’s next for the dollar? Will it consolidate and attempt to break out above the top rail, retreat to the lower rail, or…?
yeah real interesting candle on the dollar yesterday. Looks like it’s topping but then retreats so sharply. Go gold!
A top on or before Day 9 is usually bearish but the last two Daily or Trading Cycles topped on day 9 but then chopped sideways into higher lows. If it has topped, we need to see impulsive follow through similar to the past two days so we shall see.
Thanks, Surf.