USD Intermediate Cycle update
Currencies / US Dollar Oct 17, 2017 - 05:13 PM GMTBy: SurfCity
I need to see a bit more follow through confirmation in the days ahead, but it sure looks to me that the USD found support at the 50ma and found a short term Trading or Daily Cycle Low (TCL/ DCL) last Friday on day 24.
If I am correct, we are on day 1 of Trading Cycle #2 and this also means that the USD has found its longer term 5-6 month Intermediate Cycle Low (ICL) back in early September near the 7 month mark. My first chart is a close up daily that shows the price action.
My second chart is a 2 year weekly showing the overhead resistance the USD will need to overcome if it is to test or breach my Red Yearly down trend line.
By Surf City
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