There are some things to take into account when looking at the US Dollar: technicals, fundamentals, and historical trends.
Technicals:
- The MACD has formed a double bottom on on the weekly time frame which is indicative of an Elliott Wave ABC corrective pattern unfolding and the start of a new uptrend
- DXY stochastic has coiled into a bull wedge on the verge of breakout
- Bullish RSI divergence on the weekly time frame
- Bouncing off of a critical support range of 88-89.5ish --- if we lose this range its all over for the dollar
Historical Trends
- The dollar historically has found a bottom every 36 or so months. We are 34 months or so since the end of the dollar bear market in 2018.
Fundamentals:
- While I am of the belief that we will see inflation in all fiat currencies regardless of any short term bull markets due to the reckless monetary and fiscal policy, the dollar is by far the strongest currency.
I am expecting a new rise of the US Dollar in the Medium term as we begin our next 5 wave impulse pattern.
Technicals:
- The MACD has formed a double bottom on on the weekly time frame which is indicative of an Elliott Wave ABC corrective pattern unfolding and the start of a new uptrend
- DXY stochastic has coiled into a bull wedge on the verge of breakout
- Bullish RSI divergence on the weekly time frame
- Bouncing off of a critical support range of 88-89.5ish --- if we lose this range its all over for the dollar
Historical Trends
- The dollar historically has found a bottom every 36 or so months. We are 34 months or so since the end of the dollar bear market in 2018.
Fundamentals:
- While I am of the belief that we will see inflation in all fiat currencies regardless of any short term bull markets due to the reckless monetary and fiscal policy, the dollar is by far the strongest currency.
I am expecting a new rise of the US Dollar in the Medium term as we begin our next 5 wave impulse pattern.