Dollar (DXY) Daze

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Here's a look at the USD using the DXY as our proxy.

Observationally:

1) nice orderly ABCD pattern on the way up
2) a developing bearish harmonic crab pattern targeting 100 (+/-25)
3) a Wolfe Wave which helps define a reversal entry and upside profit target
4) a current orderly ABCD which takes us sub 100.
5) Momentum indicators are nearing their bottom but this could last for a month.

Keep an eye on US Treasury yields, Fed comments and the price of gold for additional color.

Bottom line I am looking for a sub 100 level.. but there may be a bounce before then.
as nothing goes in a straight line.


Not investment advice ... do your own due diligence.

Good Luck and Season's Greetings

S.

Penafian

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