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Re: US Dollar Elliott wave *LINK*
In Response To: Re: US Dollar Elliott wave ()

LOL. It took me some time to find a good long term chart to look at. I attached it to this post. I did find one and all I can do at this point is look at it without any other technical insight. But it sure does look like a HUGE downward wedge of some kind. I wish I could see all the years before 1985 like they have for DOW charts. But I couldn't find one that far out.

To be honest again if you read my profile, being an options straddle trader, I dont normally look at the very long charts. Usually weekly dtermines my "preferred" direction vs the opposite "insurance" direction. But looking at the very long helps that in the overall picture.

Having said that if I had to make a call based on that Long term US dollar chart alone, the huge wedge looks bullish and about to turn. Being so long term though, that could still mean months away. Also, looking at the very right side (our current view), it looks like we may need to go down one more time below hat 70 mark to complete it. This is based only on this long term chart by just looking at it and analyzing what normally happens at the end of a wedge. It could certainly truncate at one point. But long term does look bullish. Hopefully the chart i tried to post does post.

But short term (ie., next week or two) I only see down. After that will determine what will happen "long term".

Thanks