USD Charts and Commentary.
Imo the dollar is still in a downwave, and specifically in a small, noise counter correction within that downwave. Can not tell if that counter correction is done, nearly done, or just what. It will have to work itself out.
There appear to various LT charts, re the dollar. I do not know or understand the differences between them. The latest is here. It would indicate there is very little support for the dollar in the 80 area, and it is headed on down. I have mentioned of that possibility, coming up, and before I saw this chart, from the hardrock boys.
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This is decisionpoints LT dollar weekly, and shows strong support in the 80 area.
ttrader.com\'s%20charts&id=427&d=2
This is longterm chart pieced together by Louis Lambrecht, some time ago, which I saved. It appears to be somewhat between the two above, but leans more towards the HR boys.
ttrader.com
So, which is correct? I dunno for sure.
All I know is I am sticking with my analysis that there is more down to come, in the near future. Near ... inference is over the next several months. I don't presently feel an IT bottom is likely until mid year or beyond.
My somewhat preferred LT count is here.
ttrader.com\'s%20charts&id=427&d=2
My ST count is here, and this is where it really gets interesting. Counting these minors is prone to error. What I have outlined is a very interesting possibility, and that is that this correction is indeed a very minor one, and the iii of III of 3 as I would have it is far from over. A fib of the last wavelet has been hit as depicted, and if this possibility is correct, dollar is ready to fall. It will not go higher here, it can not for this possibility to be valid. I can not tell if it is this possibility or the other, if it is the other then it is likely dollar has more to correct here. Hope you understand.
ttrader.com\'s%20charts&id=427&d=2
Call me a perma dollar bear for the moment. I, at least, have presented some analysis to back that up. My analysis shown is based on EW, but the TA indicators likewise imo yet show no strong indication of nearterm hard bottom, and an IT correction with some strength. That possibility does however exist, as these things can always fool us. |
