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US Dollar Losing Upward Momentum

July 6th, 2009 by AndyAskey

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.
US Dollar 1992-2001 Gann Fan

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.
US Dollar 2001-2008 Gann Fan

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.
US Dollar 2008-2009 Gann Fan

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