USD Strength

The USD is on the brink of signalling a potential resumption of the rally off the long term lows of 2008. 
The chart is borrowed from Jesse's American Cafe, the Elliott notation is mine.
The move up off the C low, is even more constructive than the move up off the A low.
click to enlarge
A triangle is typically found in the 4th wave position. Whatever the count up, 5 impulse waves or an ABC structure, breaking out to the upside targets the top of the range, around 89.
click to enlarge
Check out all the double bottoms on this chart. There is a minor penetration of the upper resist line.
Note the MACD crossover
This actually looks like it needs a little more time to break high....another day or so.
So interesting to see if it happens in here.


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