Forex Friday

In a previous post I warned Dollar bears that the time for a Dollar bounce was near and since yesterday we have confirmation signs of bottoming process in the Dollar and strengthening signs. The Dollar index has provided bullish divergence signals that I mentioned in my Dollar index analysis yesterday.


Although still inside the bearish channel and below the Ichimoku cloud, I believe if we see a pull back in the Dollar index we should be buyers expecting a bounce out and above the Ichimoku cloud towards 102. There is also a scenario that is even more bullish where we have finished a wave 4 correction in the Dollar index and we should now start wave 5 up towards new highs.


The comments area will be updated with specific pairs and their charts and few comments. Thank you for taking the time to catch up on my thinking.

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