USD Index

[Xerof]

Is the range about to break?

[Xerof]

update of big piccy - nicely defined Regression Trend Channel, with index prodding the major trendline again. Good one to watch in case we have a breakout for USD. Bottom of RTC meets trendline this week....should be a defining moment.....



Xerof

[Xerof]

quoteosted 4/11 in the chitchat thread

The USD Index has had a daily close above the longer term resistance line for the first time this year.

I'm wondering if we are about to enter a trending market at last, but plenty of time for confirmation - a weekly close above 90.50 would be nice, but will wait to see what the market tells us on that score

First daily, now weekly close well above T/L. Monday should be interesting

Xerof

[peat]

I watched a video on Elliotwave.com this morning re a USD rally with an EW count on the index. It opened the possibility that the index was bullish given a 5 wave count off the bottom, but he ultimately discounted this interpretation unless it confirms with new and strong highs in which case this would be a wave 3. I'll put some pictures or a link up later if anyones interested.

[slam]

quote:Originally posted by peat

... I'll put some pictures or a link up later if anyones interested.

Hi Peat
yes please
I have been away from forex for a few months with just having the odd dable ( which did me no good at all[B)]).
Now gathering info again and need to do a few weeks swat to catch up with whats what.
tia
Slam

[peat]

try this - i think it will work for anyone.

http://www.elliottwave.com/subscribers/dxc/

[arco]

Thanks Peat

Very interesting....are you taking a trial subscription ?

It would also be interesting to see how they do on the currencies.

regards - arco

[peat]

i get their emails and have a logon but no money has changed hands.

[peat]

interestingly I've been looking for this thread and not only is it about the USD index but its EWI and Prechter getting mentioned.
Bob is calling a major bottom for the USD now... and he might be right but the butterfly B point is at 62% retracment and not at 78.
D certainly bounces off 127 nicely tho.
the cloud weighs heavy above but it is thinning out when it gets easier to break through huh? - there is lots of historical resistance at 79.5 - 80 and none of the ichi moo cow indicators have bellowed - so strictly speaking hasnt confirmed in any way.

given that we cant trade the index what actual pair is the strongest component of the index ?

[dumbass]

hi Peat , this is composition of dollar index which is dominated by euro, which i suppose makes sense as its representative of 15 countries.