Forward almost 4 months and no USD rally... what went wrong?
In my opinion, nothing at all, USD in my perspective is still very poised to rally big big time, but it has taken a lot of time in these up and downs since July. The fact is the price never went too far from my projection... the low so far is 74.90's which is very close to my projection and nothing to worry about... I guess that in order for the USD to bottom it needs to consolidate and form a base on these levels so that once it's ready it can shoot up. My mid-term/longer term perspective is that USD is poised to rally big time.
The daily charts are showing some big positive divergences, so the rally may be around the corner... big divergences on the dailies+very strong support = rally time.
Unfortunately my chart feeds aren't working right now so I can't show any charts... but Daneric at his blog does show some nice charts on USD (see the nice divergences going on?)
