USD Topping?

BarroMetrics Views: USD Topping?

I am starting to see signs that the US$ is topping, at least in the 18-day swing (monthly trend).

SentimentTrader points out that the ‘smart money’ has established new-all time recored short positions, while the ‘dumb money are nearing record level long positions. In addition, against some of the minor crosses e.g. the AUDUSD we are seeing a stalling of momentum (possible H&S on 18-period 290-min chart, Figure 1 [in this case,  equivalent to the 3-day swing).

And for those who receive the weekly video, the Ray Wave is making a case for a reversal on acceptance above .8238 on a 290-min basis.

That doesn’t mean that a US$ change in trend has a high probability of happening – it does mean care needs to exercised if we take positions based on continuing US$ strength.

audusd-18-p.jpg

FIGURE 1 audusd 18-P