The US dollar is still maintained by an up fork, so I expect it to strengthen, but I give it several routes... At least that's how I see it now.
Comments
butterliesel
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do you think the usd has the potential now to go under 80 till the move up starts?
ForceFollower
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No, I don't think so. I don't think it'll plunge below the median line. I find it slightly bullish, although it's not as clear as I would like it to be. Some forces are pulling it down, but the basic trend line gets hugged too tightly, which confirms my bullish bias. Any move up, altough short-lived, is strong, while the down moves are lazy and slow. If the low 80.38 holds, I expect a breakout to the up side.
butterliesel
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hello force, do you have any update to this scenario?
ForceFollower
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I'm bullish US dollar. At least for the coming several hours.
butterliesel
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thanks for your kind feedback, enjoy your day.
motleifaul
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I am neither a USD Guru(I still make losses in EURUSD) nor am I on the way in the 240 min. frame. So I am a contraindicator, perhaps. So take it with caution: I also think that the USD will strengthen but not higher than the previous November hight.
cryptoyoda
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But I'm not sure; ~81.3 was an Ackerman P: And the last retracement lasted a long time, and wiped out almost all the gains of the 7-8 Nov upward push...
ForceFollower
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Please note that your orange line is a target of one of the scenarios. Sure, there may also be some larger downtrend pressing it downward. USD would have to beat that line first.
cryptoyoda
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Ah yes, so it is! I think with 2 P targets and prior resistance it'll be a tough one though...