Hello Traders, In this Wolfe Wave I want to highlight the internal moves between the points. Points 1-2: You want to look for an abcd pattern in the development of points 1-2. Though it is not always the case this usually helps define whats coming later on. ab=cd Points 2-3: Similar to 1-2, 2-3 also forms an abcd pattern. 2-3 is typically the longest wave in...
The USDOLLAR index has broken its upward channel and now seems free to go to the next resistance level of 11855. This couls spell a short term rise un EUR and GBP v USD.
USDOLLAR INDEX H4 FORECAST NEXT WEEK: I think price will drop into 72Fib and then move up to 162Fib. But i have doubts about the upmove to 162Fib since both COT-data and accumulation-levels signal bearish developments. Another conflicting source is the seasonal chart of the USDX . This chart show clearly that USDX weakens in pre-election period.
The DXY - US Dollar Index has broken a channel that has been holding the upside for several weeks. This is a clear signal of Dollar Weakness to come. From a fundamental perspective, this week the FED did not seem all too dovish in it's statement, but at the same time it was lacking the main component for broad based USD Strength - A clear signal for March. ...
US Dollar -- Ascending Wedge Daily -- buy / sell the break
The market is repeating itself with lower values and has formed a classic double top. I think the increase we are seeing now is Yellen hype. A push up will close out shorts then the market should fall to the neckline support.