US Dollar : Alternate count.

FX:USDOLLAR   Dow Jones FXCM Dollar Index
19 0 0
The us dollar             is down some since my last posting 5 days ago. But the price action has me considering a different point of view. The price action since February may not be the beginning of a new downtrend but a sideways consolidation (such as a triangle). Both the 4 hour and daily charts have developed a potential positive reversal in the RSI . Even if this is correct I suspect there likely will a little more down action just ahead to the target box. Personally at that time I will cover my short position and wait and see if the down channel is broken by up action or the level C is taken out by down action.
I will post the longer term view of this as a reply.
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