This is the last chance for the dollar index. The current low must hold or I will be forced to label the move down from the high as an impulse since a quadruple zigzag does not exist. If so, 5 waves down can only be the beginning of something mush larger to the downside. Up to this point the decline could be labeled multiple ways, I've only labeled it as a triple zigzag because … [Read more...] about Make it or Break it Time for the Dollar
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Pump Inbound for the Dollar Index
A likely bottom has been found for the US Dollar Index. I'm labeling the down trend as a triple zigzag. It subdivides the easiest, although other labeling techniques are also acceptable. More importantly, the second wave has retraced a Fibonacci 61.8% from the high. A guideline for a second wave retracement which sports a zigzag or zigzag combination pattern. The reaction from … [Read more...] about Pump Inbound for the Dollar Index
The US Dollar Finds a Bottom
The US Dollar Index has found a bottom before it continues it's historic rise. Since July 18th, the dollar issued a massive 12 week rally resulting in an impulse wave with both a third and a fifth wave extension. The resulting correction, labeled as wave 2, appears to be finished, or very close to finished. Wave 2 carved out a double zigzag that has perfect Fibonacci … [Read more...] about The US Dollar Finds a Bottom
The DXY Begins Wave 2 Decline
The US Dollar Index has rallied impulsively for 12 consecutive weeks and appears to finally have begun a second wave retracement. After the dollar broke out of a channel containing the impulse, I can then go back and Count the structure. The most probable count is an impulse containing both a third annd fifth wave extension. Expect the index to resume a corrective decline into … [Read more...] about The DXY Begins Wave 2 Decline