My U-turn on the Dollar: Saturday 27 November 2021

I could not have been more wrong on the Dollar here (https://kudakwashe-chinhara.medium.com/dxy-cycle-study-suggests-weakness-ahead-friday-23-july-2021-a772fdfbbc9d) and so here I am…

Figure 1: The U-Turn Bus

November in the EUR/USD has the hallmarks of a 3rd-wave extension (http://www.elliottwave.net/educational/basictenets/basics2.htm). If that is the case, then the poor cross could be in “Sell the Rip” state for a long time. I am doing just that…

Figure 2: Idealized version of Third Wave Extension (source EWI)

Figure 3: EURUSD Third Wave Extension in Progess?