Quote:
Originally Posted by terton
In fact, my prediction was curtailed - the pair could not rise above 108.40, confirming that we are really in a downtrend. Time is up. We have the top of this move. |
Run out of time? Surely you aren't discounting tomorrow's FOMC rate decision. I can guarantee that an unexpected hike or commentary that suggests one will be found next month or in October will lead to an upside breakout.
In fact, if you look at the dollar across the board, it is moving on major technical levels (EURUSD dominate trendline, USDCHF 1.05, USDCAD 1.035), which increases the probabilities for a breakout dramatically.
I wouldn't say the top is in write now. The only high probability outcome in my book is that we will see some incredible volatility tomorrow.