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I showed this to Antonio earlier. Thought it a good idea to put it on the forum. Big contrast for the Dollar Index between the weekly chart with two years worth of data and the monthly chart with 30 years. There is clearly a big falling trendline on the weekly chart which should present problems for the dollar.
I think this is useful for USDJPY since the pair is coming up on its own resistance in a four-year high. There is also a big 61.8% fib of the 135.17-101.77 bear wave at 122.40. While a few of the other majors have room to breathe before reaching big trendlines (EURUSD 1.3250 and GBPUSD 1.9600), USDJPY is being held back now. If USDJPY holds its resistance and GBPUSD and EURUSD get cozy with their trendlines, we will probably see a big drop in volatility just before a big indicator or news event triggers a big dollar breakout or retracement. I'm going to be ready for it with position scenarios for USDJPY, GBPUSD and EURUSD.
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