Did my EW analysis on DXY.
My gut thinks we are still correcting in a large bear market and the next move out of the falling wedge is just counter trend and I am waiting for more clues to establish where we are in the trend.
And of course my bias is that all the money printing and liquidity injections from Fed Reserve will lead us into a larger bear market where the DXY is set to break back down below 70.
But this could take many years so for now I think we are just correction from the 5 wave bearish move down from the highs at $120 back in Feb 2002.
My gut thinks we are still correcting in a large bear market and the next move out of the falling wedge is just counter trend and I am waiting for more clues to establish where we are in the trend.
And of course my bias is that all the money printing and liquidity injections from Fed Reserve will lead us into a larger bear market where the DXY is set to break back down below 70.
But this could take many years so for now I think we are just correction from the 5 wave bearish move down from the highs at $120 back in Feb 2002.
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