goodguy
Short

Update on US Dollar. I remain long term bearish.

INDEX:DXY   US DOLLAR CURRENCY INDEX
Six months ago I published a long term weekly chart with a target which was so far accurate. (link below). I screwed up after that thinking that the correction up was over and it was not. I think now it is more likely that the up correction to "C" is over as C has gone up .62 X the distance down to B. Of course the trend is sill up to perhaps the .78 correction up but this seems less likely to me as we have a strong negative reversal in the monthly RSI (dashed black line) followed by a bearish divergence in the RSI (solid black line). I still favor this all this action may well be forming a very large triangle before a last huge drop in the dollar.
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