Lanmar

US Dollar Index: Long Term Cyclical Forecast Possibility

INDEX:DXY   US DOLLAR CURRENCY INDEX
This is an update to my DXY analysis from August 2015. Nothing has really changed much from that analysis except a potential top in January of 2017.

Time cycles change all the time, so I have no interest in putting too much faith even in something as consistent as the US dollar time cycle. However, I am very interested in the 618 level at ~ 84, should the 93 - 95/96 level be compromised. The absolute most ideal trading pattern for me would be congestion within a wedge as drawn in the chart.
Comment: UPDATE:

The US dollar (DXY Index) is down -12.09% from its peak, and -4.6% since publishing this idea. However, the downward momentum will not last forever without some buying pressure. The consolidation forecast seems to be intact for now as I see some support coming up soon, but not enough to restart its bullish trend.

Watch out for the 90.60 level, which implies selling pressure at 1.2130 - 1.2140 on EURUSD.

Comment: As projected, a reversal is on the horizon from the 92/93 level. 97 level is the next stop.

Comment: Possible reversal in USD. Either way, a pivotal level.
Comment:
Comment: Some reversal is underway very soon in my opinion.

Comment: We are now at the top of my range as shown in the chart below.

If you want more updates on this trade I will be tweeting them. Find me there. Twitter handle is in profile
Comment: DXY closed at a low it hasn't seen since mid 2018 (94.34). If I *have to* guess, we are now at the mid-point of the US dollar weakness cycle.
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Comments

Nice works! Thanks for sharing.
+2 Reply
Thanks for your idea! To my mind, it will do for short...
+1 Reply
nice.
+1 Reply
"Very Nice Chart and Cycle Work" --- Thanks
+1 Reply
holly smoking, I am following this idea every day !!!
+1 Reply
Lanmar cocawater
@cocawater, glad you are enjoying the show ;)
Reply
Very nice thanks, for posting this chart.
"I" think we will be going below 70.69
(below 2008 low)
I think we have started a 5 wave move down.
+1 Reply
brilliant :)
+1 Reply
Agree. I think Dollar topped out already. From now on should be selling dollars, but after correction.
+1 Reply
Love this chart
+1 Reply
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