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$USDollar Chart: A Larger (BEARISH) Pattern Ahead? | #USDollar

FX:USDOLLAR   Dow Jones FXCM Dollar Index
306 4 3
$USDollar Chart: A Larger ( BEARISH ) Pattern Ahead? | #USDollar #USD #EURO #Gold


Friends,

We just released this chart and provided a short description of the successful forecast that called for a decline in the USDollar             Index at a well-defined level. If you want to take the time, simply see original chart set-up here: http://on.fb.me/1dtkXqN, as well as the final dead-on hit result here: http://on.fb.me/1ktCEzB.

We decided to repost the chart after drawing the ghost (i.e.: fainlty defined lines in light grey) of a potentially larger Wolfe Waves pattern ("WW" in short). If this WW remains valid, we should potentially see another USDollar             Index decline along the 1-4 Line, which is the faint grey line slopingtowards the bottom right in the chart.

Independent from the chart and price action, our prop methodology does confirm a bearish directional commitment of the USDollar             going forward, falling in alignment with the directional bias which the WW is know to produce quite reliably.

OVERALL:
The USDollar             is markedly Bearish , and further downside incursion should be expected. Look for structures are probable level of price interference, and remember to "do the due" diligence in ALL of your trade analysis prior to committing to a position: It's the responsible and professional thing to do, even if you are not a true professional (at least, act like one, and you will become one).

Have a fantastic weekend!

Cheers,


David Alcindor | 4xQuad.com
David Alcindor
Alias: 4xForecaster

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Hello @kinetix360 - Sorry for this late reply - Do you have a chart of the USDJPY pair with the Wolfe Waves pattern onto it to illustrate your comment by chance? Just wondering what you were referring to.

USDollar and USDJPY are both indirect risk indicators, such that a "Risk On" environment is likely to be bearish for the USD side of the chart/trade, whereas a "Risk Off" is likely to bring support for the USDollar index and pairs.

So, any pattern correlation makes sense.

David Alcindor | 4xQuad.com
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$USDJPT draw an identical pattern with USD index. is this support to buy USD ?
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this USD index pattern is very identical with USDJPY parent (hourly chart)
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