As we can see in the chart below, the USD plunge has gotten a bit ahead of itself, time-wise, as reflected in its relation to the falling red-dotted line.\u00a0 However, this is definitely a technically negative-looking chart!\u00a0 As noted, the USD has failed to muster even a decent backtest (BT) of recent breakdowns of key support.<\/p>\n
While I expect at least sideways price action in the near term to resolve the time issue and unwind present oversold indicators – I’m not convinced at all that even the recent gap (red box) will fill before the downtrend resumes in earnest.<\/p>\n
For example, when we look back at the move from the top to bottom rail during April-Sept, 2017, we can observe that there were many gaps along the way that did not fill…<\/p>\n
As we can see in the chart below, the USD plunge has gotten a bit ahead of itself, time-wise, as reflected in its relation to the falling red-dotted line.\u00a0 However, this is definitely a technically negative-looking chart!\u00a0 As noted, the … Continue reading ![\"\"](\"https:\/\/goldtadise.com\/wp-content\/uploads\/2018\/01\/UUP-Daily-2.png\")
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