U.S. Dollar sell off is around the corner.
This EW count shows the blue primary flat and the impulse wave 1 (2016) followed by the sub flat correction in a possible wave 2 (current price). The sub 2 flat reached 2.618% of Sub A vs. C outlined in orange. This could either go down for an "X" followed by a bullish Y and then the big sell off. Or this could be the end of the wave 2 pullback and we can see the USDX break a new low. All the other USD related pairs are at terminal points also.
Fundamentally, The trade war with the entire world and primarily china is heating up. Trump just imposed 250 billion of tariffs on China and they vowed they will retaliate at a level that matches our tariffs. There is a lot of turmoil within the USA between the two dominant political parties and its dividing the country. In the long run I can see the bearish outlook playing out as counted here.
Fundamentally, The trade war with the entire world and primarily china is heating up. Trump just imposed 250 billion of tariffs on China and they vowed they will retaliate at a level that matches our tariffs. There is a lot of turmoil within the USA between the two dominant political parties and its dividing the country. In the long run I can see the bearish outlook playing out as counted here.