Recent US Dollar action (H4) and the next week or two is bottoming pattern. Like what we had in EUR/USD daily (ceiling). I copied the bar pattern from EUR/USD and mirrored it to make it more clear what I mean by that.
A broad bottoming out in US Dollar (H4) suggests that each lowest low could be a reversal but I will pay attention to those which happens during the time cycles zones or near them.
I pointed out two time cycle zones (two green rectangles) on the chart. If price makes swing low during these time cycles then there would be a high probability of reversal. It might also have a reversal between them or near them.
Here is the EUR/USD ceiling that I mentioned above. By putting the bar pattern on US Dollar I don’t mean that it will move exactly like that. Just tried to make it clear what I mean by bottoming.
Please Like and follow if you enjoyed my analysis.
Please check my previous forecasts to see how these time cycles work. I put few links below for your attention:
@williamdunlop3, Although being wrong is something normal in Trading and forecasting but if your comment is about the US Dollar index analysis then it is not wrong.
As mentioned above, I pointed out two time cycle zone, the first one worked almost fine and the second one is not reached yet.
Even by the bar pattern that I put on the chart, I showed that it would make swings lows few times.
So if you are looking for the wrong analysis, you need to wait more, you might see one later.