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

4 thoughts on “USD Topping?”

  1. Hi Ray,

    Sorry I pollute your post with another unrelated question!

    In the attached image it is USDCAD 13W swings.

    Facts:
    1) It was a downtrend until A
    2) At B) there is no more uptrend
    3) At C) it is a confirmation of the sidewways market

    And the question:
    The swings that start at C) through D) – is it an uptrend or a congestion?

    1. From NOT I assume it’s still a congestion since the upper border wasn’t challenged
    2. However, in NOT a series of HH & HL (3 in this case) make an uptrend.

    I favor 1., an uptrend through the primary sell zone. Not sure though.

    http://i.imgur.com/DxXLrmO.png

    Thank you,
    Sorin

  2. Hi Sorin

    Actually the video service is free.

    From time to time, we publish an invite to join. Next invitation, on this blog, will be after the Feb 5 when I return from Singapore.

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