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Dollar Index

22 Jul 2020 ‚óŹ 06:17 AM

Wave V of 3 in the dollar index is extending with multiple subdivisions. On the chart you can see I have marked waves i and ii 4 times, which means that we will now get wave iii and iv also 4 times before wave v completes the downtrend. This means many more up and down gyrations and possibly 1 to 2 weeks of further decline in the dollar index which may then test the trendline from the 2012 bottom at 94.50. Breaking it would turn even the last of the dollar Bulls into a dollar bear, as it confirms a long term trend reversal.

dxy 220720

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