The 2008 -11 US Dollar (using the five year chart) uptrend support line was clearly broken to the downside back in March 2011. Currently the US Dollar continues in a narrow sideways closing triangle pattern which is nearing the end of it’s life cycle. We are approaching a point of possible decision to the upside or downside.
Momentum and technicals indicate downward pressure. Liquidity and relativity to other major currencies indicate upward trend of equal pressure.
Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.