The entire concept of charting is based on the premise that geometric configurations tend to repeat themselves — of course, with slightly different variations.
There is evidence that the U.S. Dollar is bottoming. In fact, the current 4-month bottom in the US$ is almost identical to the 5-month bottom in 2008.
Below find three charts:
- The weekly graph, showing the 2008 bottom and the possible bottom at hand.
- The daily chart from 2008, showing five points of demarcation.
- The daily chart today, showing the same five points.