Elliott Wave 5.0 "Reboot"

Monday, April 25, 2016

US Dollar 2010-2016 Elliott Wave Count Review.

The US dollar has been very frustrating to count out, but I will give it a chance to see if it still is going to hit close to my 92 price level with a 4th wave bottom. My "D" wave rally should still see a complete retracement so we have to see if that will still happen. 

Commercial traders are still net short on the US dollar, which is still bearish. It is when they switch to a wide net long position that gold may see some real problems.  Gold has been having difficulty in maintaining a bullish phase, so this could be a problem.