USD moves are very disappointing, now it is strongly trying to take support around 82.5 level. USD’s moves during last few weeks indicate that it is making lower lows but during last few days it is trying to make a base around 82.5 level. So there is an expectation that things may turn-around from this level. But first it has to break 83.5 and unless it crosses 84, I am not fully sure that it is going to react fully on its bullish pattern.
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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