The bottom trendline is barely sloping up so I suppose it is not a Descending Triangle.
It could be a Pennant and the pole is DOWN but Flags, Pennants and Triangles are neutral until broken.
Prior Parabolic Arc that has pulled below the .382 but most pull at least to the 50% mark so time will tell. It is possible for an ARC to correct less or more than 50% but chances are, this may correct up but will come down again. Nothing is written in stone except the 10 commandments (o:
Spinning top today/a candle of indecision.
No recommendation
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12-30-22 Triangle/Pennant
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Is it worth the paper it is printed on? Remains to be seen
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RTR!
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1-14-23 Most ARCS fall between 62 and 79% which would be between 98.242 and 93.909. This just an average and some fall less or more.
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1-19/I know this should move inversely with the market. The market is down today and this it too. I guess eveyrhting does not always go with the flow.
My bias it to the upside as I don’t see any other central bank being able to tighten as much as the US. The US has by the strongest economy and will require higher rates to slow down to a level consistent with 2% inflation
Richceo
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My bias is till downwards to a strong support of 101.75.
lauralea
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@Richceo, I agree/Securities and be like a 2 year old and they do not always do what are supposed to do (o:
arama-nuggetrouble
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@lauralea yeah I’m starting to have a changé of thoughts and bias the downside for now... the fed is done with this tightening cycle and see a possibility of 97 for the dollar. In the short term I can see the dollar go up to 106.... I’m all over the place lolll
lauralea
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@nuggetrouble, Life is never stale for long and I suppose that is why life is exciting?
lauralea
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@nuggetrouble, I hope the US is as strong as all that. Seems this country is losing ground but possibly an illusion.