Friday, July 9, 2010

Dollar Index

The big question is when is this swing going to be over for the US dollar and when do we buy it again.  I am not ready to buy dollars quite yet looking at the dollar index.

I am looking for two equal corrective swings down (shown as turquoise lines), which gives me a target of 82.71 which is also just above the April swing high for the dollar index, the May swing low and the 61.8 fib retracement.
When the we get there I will be ready to buy the dollar again and I think we see the next swing.  Until then I am holding off.

When Fortune and CNN start saying Central banks start to abandon the U.S. dollar then you know a reversal is not far away.


  1. Excellent chart, excellent plan.

  2. Dennis Gartman on the yen and EURJPY

  3. Great plan. It squares well with the EURUSD chart too.