Tag Archives: USD Elliott Wave

US Dollar Intraday Review: Last Chance

 

 

The US dollar has rallied a bit further than I would like, and this is a signal to review the wave count again.  There may be a desperate attempt to break to new highs, and this wave count would allow it to do just that.   The idea that the USD can still falter in the next few days is never thrown out, as in this case two wave counts are in effect. I make my intraday charts fresh every day, and like to keep one wave count on one chart. 

Most of the time there are always two wave counts in the running, and it is only at the last minute that any wave count, gets down to only one choice. 

We are about three trading days away from the full moon this Sunday, so that may provide us with another turning time period. Full moons are usually bullish for stocks, but I have seen the markets charge right through the new moon and the following full moon as well.

Only time will tell if this top will hold, as it may take the rest of the week to find out.