$USD Index Pattern and Price: Smaller-timeframe abc correction complete
In the larger timeframe $USD appears to be completing W.C of an ABC correction of the rally that ended in July 2001. Likely completion of W.4:C in the smaller timeframe implies that price will begin to trend lower, eventually completing W.5 and thus the larger-timeframe W.C.
Multiple-Timeframe Momentum: Bearish
Bearish reversals in both the smaller and larger timeframes indicate that $USD has reached a high that could last for days or even weeks
Implications: $USD may be headed lower
Consistently bearish price, pattern, and momentum across timeframes signal that $USD has likely found a top and should begin to trend lower over the next few days or possibly weeks
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