zentrader.ca / By Poly / January 20, 2013
One thing is certain, the Dollar is not being sold off aggressively as many have expected. Four rounds of massive quantitative easing and zero interest rates have done little to dampen the appetite for what firmly remains the world’s reserve currency.
The Dollar has been putting in a number of powerful surging days right at the point in the Cycle where you would normally expect a defining drop. This occurred on January 3rd/4th and again a similar surge this past Friday. The Jan 3rd surge forced a short 11 Day Cycle and this Friday’s move has the trappings of yet another new Cycle in play.