A lower low and and a higher high than the prior day has already been seen. A close in the upper region of the daily range is needed to given the US dollar index a key reversal on the charts today. When they happen at tops and in this case bottoms of a trend, they are meant to be powerful signals.
Their predictive power has been abysmal of late, however. A key reversal in cable in early May did not end the pounds uptrend, it should be noted.
