US Dollar Intraday Bullish Phase Update.

On the 12th of April, the US dollar index seemed to have made a good bottom which may be the 4th wave of Minuette degree. It could take the rest of the month to play out but the full moon this Friday may change all that.

Looking for a bullish wave count in a world that is trying to kill the US dollar seems futile at best but that’s what markets do, as they act the opposite of what the majority always expect. Against all odds, the USD has turned bullish. Any 5th wave can extend blasting to new record highs and I’m sure we will get a heavy dose of diagonal wave structures as well.

It would be nice to see the USD above 97.700 but that could just be wishful thinking at this time. The commercials are not on the bullish side so any bullish wave count I have technically should not work.

 

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