goodguy

Follow up on long term US dollar index

INDEX:DXY   U.S. Dollar Index
My previous guess at the course of the dollar was wrong with the long term down trend line and the 50% retraction not effecting price action. I have changed my perception of the formation that has formed. Now we are near the .618 retraction. From my EWT             count (always subjective) we are at the 4th wave of lessor degree which supposedly is a good spot for a correction to stop. We are at the channel line the way I have drawn it. The RSI is higher now than anytime since 1991 but price is not (negative reversal). All you correct bulls have had a great week. But I'm looking for a possible reversal soon. Have a great week. Goodguy.
I agree on this one.
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