- Misjudged the duration of the consolidation. Over (?) a lot quicker than expected.
- Daily chart broken its triangle now = continuation of downtrend. Triangle downside objective is 75.15. Now at 76.96.
- Weekly and monthly have always stayed bearish.
- If daily triangle meets its objective, the monthly would have broken solid support below at 76.11.
- EUR/USD equivalent chart-point on the daily triangle is at 1.4016 (buy stop above to clear out hedge).
3 comments:
Interesting analysis. Here is some Market Commentary on USDX presented by ICE. Let me know what you think.
ICE Market Commentary
Advocate of ICE
Exact same analysis here. I like it.
-77.18 fresh position.
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