The Dollar: Currents, See?

June 10, 2012

DX flirted with breaking the big purple channel dating back to 1999, but in the end backed off as we expected.

It’s clear from even a casual glance that DX has to choose between the big purple channel and the smaller one (yellow, dashed) cutting across its mid-section.

Since reversing as expected on June 1 [see:  Why I’m Buying] DX has done a great job of following our forecast very precisely.  Recall that we were watching for a H&S top at the .618, followed by a series of additional H&S patterns in a cascading effect.



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