US Dollar Intraday Decline Update.

For now I put my 4th wave in Minor degree back up, for now. The decline sure has diagonal parts to it so that helps to confirm that a potential 5th wave decline is in progress. I do have an alternate wave count for the entire bullish US dollar move, but that is still too early to comment on.  Once we get closer to the 92 price level, the alternate pattern may  clear up some more.   Our present USD rally  has already a small spike in it, but a mini double top would be a better fit. From this wave 2 rally, the next decline should be another zigzag type of a move.

There is nothing that blocks the US dollar from going much higher as “C” waves can do some wild and incredible things. Gold has been sluggish in its rally, but that can be irrelevant when a diagonal bullish phase is in effect. At this time,  a big bearish move is still in the cards, as the 2016 top can be a “D” wave in Primary Degree.   That potential “D” wave top would give the US dollar a full 8 year bear market rally.

I keep my options open as the entire 31 year US dollar decline from the 1985 peak, is just a giant triangle.

 

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