DXY in 4th wave triangle with US GDP & FED rate decision <2wks

17 Jul 2018

The US Dollar is in a 4th wave correction, and appears to be forming either a flat-top triangle or contracting triangle, before heading higher. Key market data is imminent in about 2 weeks. US interest rates continue to make the US Dollar fundamentally attractive.

19 Jul 2018

Nota

The flat-topped running triangle scenario seems to be playing out. The other scenarios appear to be ruled out, and if we get a pulse upward after 3-wave pull back (wave (E) now in progress), further upside should follow.

26 Jul 2018

Nota

That GDP data on Friday morning at 5:30 PST is going to be the excuse to break one way or the other. Watch out for the head fake.

31 Jul 2018

Nota

ECB and BOJ left their rates unchanged at 0% and -0.1%. US Rates almost certainly going up tomorrow as expected. US GDP @ 4.1%. Consumer confidence beat expectations. NFP comes on Friday; probably strong. All bullish.