Dollar Short
As noted last week I'm watching the dollar for the short position trade, I'm going to put on an entry here off the daily.
Quarterly:
- 10 year down trend turning into a flat market.
Monthly:
- Basically a year and a half of straight down with no healthy correction to speak of.
- 500 pips from 2 year average.
Weekly:
- 3 pushes overshooting the original trend. Most recent swing has stepped up back into the range.
Daily:
- Notice the parallel channel drawn off the most recent lower lows of this action.
- Notice the failed breakout of the top side resulting in the most recent lower low followed by a step up.
- Momentum swings on the most recent price action worth noting.
- Notice how the top Keltner channel is well outside of the the top price trend line but well within the bottom? I suspect we might be at the turning point here.
Quarterly:
- 10 year down trend turning into a flat market.
Monthly:
- Basically a year and a half of straight down with no healthy correction to speak of.
- 500 pips from 2 year average.
Weekly:
- 3 pushes overshooting the original trend. Most recent swing has stepped up back into the range.
Daily:
- Notice the parallel channel drawn off the most recent lower lows of this action.
- Notice the failed breakout of the top side resulting in the most recent lower low followed by a step up.
- Momentum swings on the most recent price action worth noting.
- Notice how the top Keltner channel is well outside of the the top price trend line but well within the bottom? I suspect we might be at the turning point here.
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