US Dollar Intraday Top Review

In the last month the US dollar rally seems to have died, but an expanded pattern may still be in force. If  that is the case, then this decline should end very soon.   When we draw in,  our missing bottom trend line, then we are very close to slicing this line in two. Commercial traders made all the right moves last week, as they increased their short positions by a large amount. This is a good thing for a bearish US dollar. The Euro exploded, while our CAD heads south with the oil price. 

Nothing but a complete bullish phase retracement will make my wave count happy, otherwise I have to send this wave count to the “Boneyard”. 

Hits: 3

Share this...
Email this to someone
email
Print this page
Print