The dollar could still be in correction territory with a bottom target of 89.5, possibly going all the way down to 87.7 if the latter is broken to the downside (blue count).
A move above the 97.5 mark instead would invalidate the blue count and confirm that Wave 4 has either already completed and we have resumed the longer term uptrend to 100+, or that we are in a triangle wave pattern that will further prolong the correction.
One thing is sure, the price action over the next couple of months will determine the longer term trend for the greenback.
Feedback is welcome.
A move above the 97.5 mark instead would invalidate the blue count and confirm that Wave 4 has either already completed and we have resumed the longer term uptrend to 100+, or that we are in a triangle wave pattern that will further prolong the correction.
One thing is sure, the price action over the next couple of months will determine the longer term trend for the greenback.
Feedback is welcome.