MarcuDan

USD Index. Long Term View

Long
TVC:DXY   U.S. Dollar Currency Index
As you can see on the chart, I think we had the top on Dollar Index at 103 and we are not going back there anytime soon. The entire Daily structure looks very much like a reversal to me (maybe a Head&Shoulders). With this being said, I also think we had the daily swing bottom set couple weeks ago at the price of 91 and we are not going back below until USD Index doesn`t make a deep correction.

I expect this correction to be either a 3 wave zig-zag or a 3 wave flat. In any case, would be watching closely the 0.50 and 0.618 Fibbonaci retracement levels of the entire move (103 to 91), as I expect the price to start turning bearish in that area.

I will be updating the chart as the structure develops and starts giving hints of the next moves.

Comments

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"I " LOVE YOUR POST. Thanks for posting this. (NOT BECAUSE THE DOLLAR IS GOING TO CRASH) This is the path our country is headed very sad. (" I " hope in a very big way our " LAWMAKERS will start working with each other one of these days to fix our country "AMERICA U.S.A.") WE are very broken at this time. It looks like all they care about is taking down " MR. DONALD TRUMP "
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