Elliott Wave 5.0 "Reboot"

Sunday, April 17, 2016

US Dollar Intraday Review

The US dollar seems to have made a downward move that looks like a correction so we should at least get one more move up before we can expect another potential peak. When that happens then we will be in a situation where the US dollar can also keep right on compounding impulse waves. 

The entire US dollar decline is diagonal in nature, so all those wave structures can also be completely retraced. Until all this gets confirmed we have some tough US dollar calls ahead of us. At this time I still have a "C" wave bullish phase to complete which I have as an expanded pattern. Until this move shows its true intentions, we will not know for sure. Usually the moves last month to month, so all this could take until the end of April to play out.