Trump Supports the US Dollar are the recent reasons why the US dollar has rallied. Does that mean the US dollar crash is going to stop and miraculously turn into a bull market? No, not on this planet! The only way that a true bull market can form is if the US dollar has completed an “ABC” crash already. The US dollar was due to rally already and the only question is how high?
The US dollar doesn’t even have to go very high as it can go sideways for weeks, before another leg down might happen. There is a very good chance that another 4th wave bullish phase is in progress in Minuette degree. We need this impending wave 3-4 rally to play out and then we may be getting close to a potential wave 1 in Minor degree.
Presidents can try and jawbone the US dollar up, but debt holders like China and Russia can throw a monkey wrench into that plan anytime they want. I think we still may have 3-5 weeks left, before we can expect a Minor degree wave 2 counter rally. The US dollar is just a bit below the Fibonacci number of 89 where it can build a base, with many very short 5th waves.
In Greenspand days analysts watched the size of his suitcase to try and figure out how much paper work was in it about a rate change. Next month we will get a new Fed and even then, can a single man turn 100’s of trillion dollars of declining value to increase in value?