The US Dollar (USD) has found resistance at the 1×1 angle which represents the inverse slope of the 1992-2001 bull run. Price did break above the angle for a few months but is now to the low side of this significant line. May of 2010 will complete the time cycle created with the duration of the bull move upward.

The 2001-2008 of the USD shows price clinging to the 1×1 angle. It does not appear to me that this support will last much longer. A move down to the 1×2 angle will put price near $76-77.

The retrace of the 2008-2009 move upward shows price back to the 50% level and not looking strong. A drop down the the 1×4 angle from the 2008 low would be near the $77 level which matches the support angle from the previous chart.

0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.