Eboard10
Short

Nearing a Top in the Dollar

TVC:DXY   U.S. Dollar Index
The Dollar is nearing a medium-term top as a wave B of (4). While we may have already reached the top, I would still expect one last move up with the DXY             peaking just under the 100 mark around 99.7. This would fit well with the length of wave c being equal to wave a.

Once a top is confirmed, the price movement should resume the downtrend to complete the corrective wave (4) somewhere under the previous low of 92 and above the 50% retracement of the full wave (3) extension of 89.7 around mid-to-end 2017. An alternative count could see wave (4) develop as a triangle which would extend the correction further time-wise.

Interestingly, the count sees the dollar peak around the time of the US presidential elections. On Friday, following the announcement that the FBI would reopen the investigation into Hillary Clinton's emails, the dollar slipped against major currencies due to the political uncertainty tied to a Trump lead. I wonder if the pattern that is taking shape is an indication of things to come. Stay tuned...
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out