Dollar Index Update

The Dollar index (DXY) seems to have completed wave 4 in an "expanded flat". So I assume it's now in the process of developing a minor wave 1 (of larger wave 5). 

An alternative scenario would be that it is now in the process of making an X-wave and wave 4 turns out to become a "double three". Either way, this picture suggests a decent rally is coming and ultimately we will see new highs.

Dollar Index and Gold Update

DXY and Gold now appear to be in wave 4 and I reckon that 1200 is an area to watch for Gold to turn and make its last leg down. As I mentioned earlier, personally I'm not going to trade this because I'm trying to catch that supposed Dollar top. Exciting times are coming.

Euro Index vs Dollar Index (DXY)

The Dollar Index (DXY) is in wave 5 of larger wave C so we can assume that the dollar rally which started in 2008 is in its late stages and a dollar sell off is around the corner( in a few months).

At the same time the Euro Index is ready for a last plunge which corresponds well with the EUR/USD picture I got in mind.

So regardless what the media tells you about rising rates in the US and years of USD gains, stick to Elliott and watch this rally fizzle out soon. I'm going to update these charts every 2 weeks or so, I don't know what you people are going to do but I'm going to catch a major top.😎

BTW If it plays out this way, the Euro will gain but there are probably better options like commodities or commodity currencies (AUD/NZD/CAD).

DXY - Expanded flat in progress, should turn soon

While above 93 I'm bullish on the buck .  I reckon wave 5 started at 91.92 and we're now in wave 2 of wave 3 (of that wave 5).

Importantly, we got 3 waves up from minor wave "1" which gives us a hint that an expanded flat is in the making so look for a turn slightly below  95.30  (the extreme of wave A) for a potential turn and need to see 5 waves down on the smaller charts from the extreme of wave "B".

DXY - Dollar index could be in a Flat correction

DXY is in a minor wave 2 (of  larger degree wave 3) and appears to be in the process of making a Flat so we could see 5 waves down towards 95 before more gains are likely. I'm bullish while above 93. Cycle degree wave 4 ended at 91.90.

Long-term:

Short-term:

DXY - Dollar index, more gains coming

The Dollar index (DXY) looks bullish and my preferred scenario is that this index will  break out from current levels which would suggest that a wave 3 has started.

An alternative scenario would be that we're currently in a B-wave which would suggest a C-wave down will follow to complete minor wave 2. This would delay the advance of the Dollar by a few days.