US Dollar is Bottoming ! Hello Traders,
Recent US Dollar action (H4) and the next week or two is bottoming pattern. Like what we had in EUR/USD daily (ceiling). I copied the bar pattern from EUR/USD and mirrored it to make it more clear what I mean by that.
A broad bottoming out in US Dollar (H4) suggests that each lowest low could be a reversal but I will pay attention to those which happens during the time cycles zones or near them.
I pointed out two time cycle zones (two green rectangles) on the chart. If price makes swing low during these time cycles then there would be a high probability of reversal. It might also have a reversal between them or near them.
Here is the EUR/USD ceiling that I mentioned above. By putting the bar pattern on US Dollar I don’t mean that it will move exactly like that. Just tried to make it clear what I mean by bottoming.
Please Like and follow if you enjoyed my analysis.
Please check my previous forecasts to see how these time cycles work. I put few links below for your attention:
Good luck
