The us dollar
is down some since my last posting 5 days ago. But the price action has me considering a different point of view. The price action since February may not be the beginning of a new downtrend but a sideways consolidation (such as a triangle). Both the 4 hour and daily charts
have developed a potential positive reversal in the RSI
. Even if this is correct I suspect there likely will a little more down action just ahead to the target box. Personally at that time I will cover my short position and wait and see if the down channel
is broken by up action or the level C is taken out by down action.
I will post the longer term view of this as a reply.