Very close to a major channel top. I was looking at the wave count of the recent upward move, thinking it's nearing an end & realized looking back how many times it has touched this channel top (the lower is quite ragged), since the 1980s only been above this once, during the rise in oil price, dotcom boom years etc. 4 x : June 1989, November 2005, March 2009, June 2010.
Although structure is loose within it it appears to be the defining channel of the last two decades +. Spent a little while trying to correlate the DXY to anything else ... Hmm. Influences aplenty, oil, stock markets ... Being the base of the entire system pretty much it is it's own thing.
Historically this COULD be a quite a rapid snap down. RSI has only been this high once before in the last 17 years .. The other observation is currently not too far above is the more extreme down channel linking the two major tops, this channel does exist, & represented within the finer structure. Pivotal times.
Although structure is loose within it it appears to be the defining channel of the last two decades +. Spent a little while trying to correlate the DXY to anything else ... Hmm. Influences aplenty, oil, stock markets ... Being the base of the entire system pretty much it is it's own thing.
Historically this COULD be a quite a rapid snap down. RSI has only been this high once before in the last 17 years .. The other observation is currently not too far above is the more extreme down channel linking the two major tops, this channel does exist, & represented within the finer structure. Pivotal times.