In my last USD posting, I described that the USD dollar could be in a diagonal 4th wave and sure enough, the USD seems to be heading up again. It won’t be a smooth ride for a 5th wave because this is a world filled with diagonal wave structures.
I would love to see the USD breakout to new record highs even by the slimmest of margins but “Time” will have the final word!
Just inverse the chart above and it will look like the Euro which should produce another record low.
Gold and the USD have both been bullish today so we could run into more situations like this in the future.
The commercials are net short by a wide margin which does not seem to slow the USD bullish phase down any, at this time.