Elliott Wave 5.0 "Reboot"

Monday, January 18, 2016

US Dollar Daily Chart Review

I am still working the US dollar as a bigger "C" wave bullish phase, but most of 2015 the US dollar has gone crazy with a sideways pattern. This sideways pattern sure fits into a triangle, but as always were in the triangle we are, is always up for debate.  

For December and January the US dollar has traveled like it is working against the trend with more choppy waves that I have highlighted between my two parallel trend lines. If my "E" wave in Minute degree is real then the US dollar should still crash and possible head to the 93 price level. 

At this stage of the game the US dollar is undecided in the short term, so violent moves in any direction could still happen.   Gold is also acting lethargic so the US dollars indecision shows up in gold.