Dollar Index Sees Unexpected Price Acceleration
Ian Copsey | Sep 10, 2014 01:01AM ET
Price has accelerated more than expected and we appear only now to be approaching the (green) Wave [iii] that should stall around the 423.6%-438.2% proojection in (green) Wave iii at 84.44 - 58 but note the 461.8% at 84.81. This will require a deep Wave [iv] of between 53% and 58.6% before higher again.
First reversal should be to the span of Wave (b) of Wave (v) between 83.60-90 and following a correction the larger decline should develop. As mentioned in the daily section, this should be quite long - a sharp decline would risk a possible complex (flat/expanded flat/triangle) or we could see a long, long slow grind lower to the 53%-58.6% retracement area.
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