US Dollar Intraday Rally Update

This bullish run started June 25 and is still going as I post.  Even though the USD can fit into a 5 wave sequence we can get a 5th wave extension that may still surprise us. Moves like this always affect the price of gold which crashed this morning as well. I bet if you searched analyst reports why the US dollar exploded they would all come up with a different set of fundamentals reasons. Even the majority of wave analysts always inject some fundamental reasoning into their wave counts but the biggest fundamental of human emotions they seem to ignore.

Mini panic buying or selling is an emotional thing and in this case, short sellers got caught in traps of their own making. There are no daily trading limits in commodities so moves can move dramatically without obvious counter-rallies.

US stocks and the gold price crashed together this morning which also happened during the 2008 crash.

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