Comments on the chart
Comment:
Still looking for more downside on the Dollar Index. This move should be in 3 waves or if more complex a triangle. Price taking out the near top invalidates this idea
Comment:
Pre-market open we have a significant drop in the $ index. As in the idea, I am looking for a 3 wave drop as a wave 4. Price is sitting on support on the daily chart right now. I am looking for this support to be broken
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More sideways price action today. I am looking for a breakdown
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I can see 3 waves down from the 3 high. Wave 5 might be starting...
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No strong move up today. however, I going to take the absence of a collapse in price as an indication of the innate bullishness of this index. And consequently a weakness in the Euro
Comment:
There was a lot of ideas selling the $ but it rose today. When the market is risk-averse the $ is bought