Elliott Wave 5.0 "Reboot"

Thursday, March 24, 2016

US Dollar Intraday Review




What a wild looking pattern,  and I sure can't fit it into an impulse as too many waves overlap.  So for now I am counting them all as diagonal waves which should see the US dollar head down at least one more time. I can give the fanciest wave count you can see, but the key is the pattern down on the 17th and 18th of March, When the US dollar cross in what looks like a 3 wave new low. 

This would be a perfect expanded flat with the following bullish phase being a bearish rally. 

Any expanded flat will retrace its entire move, and at this time the small but impulse looking rally must be counted as a normal diagonal "C" wave. 
We don't have much room to tag on a bit extra but we need the US dollar to trend down to help give gold another push to the upside.  



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