Since 2015 Q1, the USDOLLAR was trapped in a huge cosolidation phase related to whether or not the FED would hike rates.
As of today, it looks like a channel is forming on the daily chart. Which could be in fact, the wave 4 (ABC correction) of a larger super-cycle.
We can also see that bottoms/top are also taking place in many USD pairs.
It's still a be early to call the short. Many the current channel will break south. Which in that case could complicate things for the USDOLLAR.
As of today, it looks like a channel is forming on the daily chart. Which could be in fact, the wave 4 (ABC correction) of a larger super-cycle.
We can also see that bottoms/top are also taking place in many USD pairs.
It's still a be early to call the short. Many the current channel will break south. Which in that case could complicate things for the USDOLLAR.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.