Yea, but the USD might double bottom tonight at the intra-day low just below 105. We'll see.
The NDX 60-minute appears to be ready to re-trace some of the move down after touching the main uptrend line off the 10-10 lows:
stockcharts.com[h,a]eaclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j6471081,y]&listNum=1
My guess is that if this is a new downtrend, we should still re-trace to around NDX 1036 before the next leg down.
The USD daily appears to have a very nice down channel forming:
stockcharts.com[h,a]daclyyay[db][pb50!b200!c20!d20,2!c50!c200!a111.31!a108.09!f][vc60][iub14!la12,26,9!lh5,5!lp14,3,3!ll14!lg!li10,10][j6472494,y]&listNum=1
However, it's getting pretty oversold and may re-trace some of the drop soon, maybe during options expiration week.
There also is a hint of a falling wedge on the INO charts, so we'll see where the support is. |
