Currencies

The Dollar Index DX looks to be extending out the wave 4 of it’s 5 wave pattern which should be followed by a last run higher into the price targets surrounding 85.00 – 85.50. 86-86.20 loom as strong resistance areas for price to struggle with on the upside. The currencies have been enjoying some volatility and essentially haven’t traveled anywhere in what is typical wave 4 price action. The GBPUSD is about the only one that’s tested lower into it’s …

The dollar has had a great run up in this 5 wave move which I’ve been counting as the 5th wave of C of B, before the moves down into the C targets over the summer. Short-term there are a couple of ways to count the structure, but both have this upside move more than half done. We’re either looking at the (iii) completed or near to completing. Both counts allow for at least a 4th and 5th wave to …

The Dollar Index solved a couple of  problem’s that had been lingering between the counts with yesterday’s strong moves higher to take out the important 83.00 and 83.24 levels in an impulsive move. This eliminates the diagonal count leaving us with two primary counts to work with. For now we’re in an impulsive move higher from the 81.37 low in what I’m counting as being in the (iii) wave of the 5th wave of c of B. There are a …

The Dollar has had six straight days of down moves which concurs with what should be the start of a 3rd wave down in C. This should be wave (i)white of 3 (yellow) as you can see on the chart, which is to be followed by a move up in wave (ii). The issue now is to clarify that it’s a wave (ii) and not the start of a large wave (iii) of an even larger degree 3rd wave which …