An A-B-C advance from April to November in a channel so it is possible that a new wave lower in wave Z started. It would test the lower end of the channel at 13.05 and if broken head toward 12.0

usdzar 141217

Dollar Index

The Dollar index gave up from the % retracement mark and the rise was completely corrective, all the moves are verlapped in the hourly charts. So the move down is impulsive and start of wave 3 of 3 of larger degree. The next move should be to go to 3=1 at 91.60 and the lower end of the falling channel. 

dxy 141217


The Euro is at an important support near 1.1710, from retracements the lower Bollinger band and the rising trendline from the April low. A good chance to get a bottom here for wave 2 and wave 3 up to start. The fall in wave 2 is a complex pattern on hourly charts to be marked as w-x-y-x-z. Once a move up starts and a bottom is established wave 3=1 will point to 1.214 next

euro 131217


The Mexican Peso - USDMXN - heading up in wave (c) of B towards 20.30 in the coming months with support at 18.77 from the 40dema.


Dollar Index

The dollar index paused at exactly 61.8% after a 3 wave rise. And unlike the Euro the fall in the Dollar is 5 waves and marked as wave i. So it would appear that wave ii up can be complete here. Wave iii down is due next though it might wait for the rate decision to pass by next week.


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