As mentioned in yesterday's post, the low for the dollar had to hold. It wasn't long before the index crashed through the low putting into doubt the long term count we've relied upon for over a year. The next probable market action on the daily chart sports an impulsive A wave down from the September 2022 high. The index spent the time between February and October 2023 carving … [Read more...] about The Dollar Invalidates a Bullish Structure
Dollar
Make it or Break it Time for the Dollar
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
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