USD Heading for New Highs?

The overnight news from China re the March trade surplus crash ; had me take another look at the all important USD, since the Yuan is of course linked, and the IMF/ World Bank meets in Washington this week.
 Weekly
 click to enlarge
 And...
Daily
click to enlarge
I think the above is the correct count for this breakout, it may be an internal count is off by a degree but the triangle is clearly a 4, and a 5 will follow producing higher highs. Looks like a triangle breakout to the upside is underway.
Note the Daily RSI has settled into neutral territory and NOT displaying any significant divergence,
while the MACD is crossing back to the upside.

The Elliott measuring rule for 5th waves is 5= .618 of 1through 3 or 109.46
or 5 =1 or 105.5
Either way decidedly taking out the 100 resistance.

Weaker crude, exports, US earnings etc.

 





 

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