This is a compliment to my analysis for Gold.
As I said before , I will also post the monthly cycle analysis for both gold and the U.S dollar.
I see the dollar reaching quite easily the 116 level which is the 1.618 extension on the 2M monthly . Thats a super super bullish chart.
You can't make these things up . I mean you see primary bullish momentum on monthly ...
US Dollar Index Futures: The recent price tick-up (since 30-Aug) appears very similar to the move from 27-Nov-2017 to 11-Dec-2017 - marked with blue arrows. Remember, specs are quite long the greenback. Expecting a weaker USD.
I think not -- I will be looking for a hit of the box, at the multi decade trendline, in ~2021. Until then, advances in Gold when USD declines are too small, and declines in Gold, when USD advances are too large to warrant holding them as opposed to just holding dollar.
My yearly composite cycles on the Dollar Index points to a possible high around the 28th August - early September. I would suspect that price may even reach the 0.618% Fib retracement around the 98.000 level before a possible decline. The cycle suggests that price may trade lower until early December.
If price does make it that high and technicals point to a ...
There is time to follow the trend or patterns and indicators or a combination thereof. Each trade is specific to that and then there are those traders who do not use any of those things. Happy trading.
The US Dollar Index (USDX, DXY) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of US trade partners' currencies.