USD is trying to reverse but its moves are limited. During last few weeks it is making lower highs and lower lows and unless it proves that wrong I am not expecting that it is going to prove its long-term pattern fully. Now first task for USD is to break its previous high of 83.5 so that it can come out from this bearish trend and unless it breaks 84 the chance of proving bullish pattern is less.
On the other hand if USD touches 81.50 then it may be making a bearish pattern, though this is an early call but this lower highs and lower lows trend may be indicating that. But somehow if that occurs then that future pattern can take USD to around below 80 level. I will think about this option when USD breaks around 82 levels. Here I must say things may become complicated in early days if USD gives flat movements above 82.5 levels in that case it is hard to predict the future now but chance of up moves are more.
Long-term pattern demands USD to go around 89–90 level but since it is not a straight up move so short-term reversals are due. I still feel that USD has a strong chance to reverse from this 81-82 level to completely prove its long-term pattern.
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