From this perspective, I can sure show you a very bearish US dollar pattern as I have a group of overlapping waves that can’t make fit. With a potential wedge and the right shoulder, the US dollar sure looks bearish. At least in the short term. The right shoulder will not hold if the USD is in a bigger bullish phase.
Tomorrow is also the full moon which can produce some amazing reversals but many turnings also happen closer to the end of a month, so the USD can remain bearish for another couple of weeks.
Commercials support a bearish stance right now, as they are net short by a margin of 10.9:1. Of course, the speculators have been chasing the US dollar bullish phase but their net long ratio would shrink as the US dollar declines some more.
A price drops down to the 94 price level would be one of my choices which would trash the bottom support line as well.
In the short term I’m bearish but longer term the US dollar could be in a bigger bull market that very few of us are expecting. In 2008 the entire planet hated the US dollar, but yet look what happened! The US dollar soared while gold crashed a couple of hundred dollars. The USD has a 26-year falling wedge which can produce super bullish phases.