USD Intermediate Cycle Update

I need to see a bit more follow through confirmation in the days ahead, but it sure looks to me that the USD found support at the 50ma and found a short-term Trading or Daily Cycle Low (TCL/ DCL) last Friday on day 24.

If I am correct, yesterday was day 1 of the Trading Cycle #2 and this also means that the USD has found its longer-term 5-6 month Intermediate Cycle Low (ICL) back in early September near the 7-month mark. My first chart is a close up daily that shows the price action.

My second chart is a 2 year weekly showing the overhead resistance the USD will need to overcome if it is to test or breach my Red Yearly downtrend line.

(Click on image to enlarge)

(Click on image to enlarge)

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.