The odds favor, that the dollar has bottomed. In the EUR/USD cross the minor support line has been broken. This cross broke slightly above the 38.2% retracement target, but the latest price action is bearish for EUR and bullish for USD. A break below 131.17 would be the next good indication, that the top is in place for the EUR/USD cross.
Looking at the AUD/USD cross my ideal target zone was hit (slightly exceeded) and the break below the ending diagonal support line does indicate that the top is in place and that we should soon see much lower prices. A break below 90.68 will confirm the top for a decline to at least 83.18 area.
The odds favor, that the dollar has bottomed. In the EUR/USD cross the minor support line has been broken. This cross broke slightly above the 38.2% retracement target, but the latest price action is bearish for EUR and bullish for USD. A break below 131.17 would be the next good indication, that the top is in place for the EUR/USD cross.
Looking at the AUD/USD cross my ideal target zone was hit (slightly exceeded) and the break below the ending diagonal support line does indicate that the top is in place and that we should soon see much lower prices. A break below 90.68 will confirm the top for a decline to at least 83.18 area.
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