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August 10, 2016 | US Dollar Index Weekly Wave View – Lower Before Higher?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

 

The US dollar index weekly view is below.  The fact the dollar could not sustain a rally despite the much stronger than expected US jobs report might be saying a lot; we don’t know yet but the rational man would have expected much more given the setup and the rising yield differential in favor of the dollar.  There is an increasing probability the dollar index is tracing out some type of wedge pattern; if so a multi-week move lower is in the cards.  Wave E to complete the wedge down near 91?

Jack Crooks

Black Swan Capital

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August 10th, 2016

Posted In: Black Swan Currency Currents

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