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DaveKoehler

DXY in 4th wave triangle with US GDP & FED rate decision <2wks

Long
U.S. Dollar Index (TVC:DXY)  
DaveKoehler Updated   
TVC:DXY   U.S. Dollar Index
Wave Analysis DXY USD
5
7
waveanalysis dxy usd
The US Dollar is in a 4th wave correction, and appears to be forming either a flat-top triangle or contracting triangle, before heading higher. Key market data is imminent in about 2 weeks. US interest rates continue to make the US Dollar fundamentally attractive.

Comment:
The flat-topped running triangle scenario seems to be playing out. The other scenarios appear to be ruled out, and if we get a pulse upward after 3-wave pull back (wave (E) now in progress), further upside should follow.
Comment:
That GDP data on Friday morning at 5:30 PST is going to be the excuse to break one way or the other. Watch out for the head fake.
Comment:
ECB and BOJ left their rates unchanged at 0% and -0.1%. US Rates almost certainly going up tomorrow as expected. US GDP @ 4.1%. Consumer confidence beat expectations. NFP comes on Friday; probably strong. All bullish.
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