Dollar decline nearing an end?

Quote from gharghur2:

Hoang,

That gap down opening as a result of the G-7 meeting and the selloff in the Yen overnight might indicate that the $$$ is going to the previous 4th wave @ 86.02. So I'd be careful here.

tony
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Selloff in the Yen overnight? Am I thinking of this backwards
 
Quote from gharghur2:

LOL yup! I blew it ...

selloff Dollar/Yen
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Ok. I sometimes get turned around when I read threads because I trade the Globex futures pair GJY which is the other way around. Do you trade the cash?
 
Quote from steveosborne:

The dollar was going down lately because of all the agitation in commodities that I think is now over. For a little while.
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I can see where the charts have potential for dollar advance against some of the currencies. The ones I trade are Canadian, Euro, Aussie and Yen futures. The first three look to have that potential, but at the moment the Yen chart doesn't exhibit that at all. Things can change quickly of course--
 
Quote from gharghur2:

I've been watching the Dollar/Euro
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I know you do a lot of EWT, but the way I see the chart, there is a clear triple RSI bearish divergence on daily continuation chart of euro fx futures as well as the potential for triple macd histogram bearish divergence which may depend on activity today. Certainly looks like potential for downside on the euro--up on dollar.
 
Quote from gharghur2:

THX
Yes I've noticed that too, on the cash index.
Was another reason to be looking for a bottom here.
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Do you find that a lot--ie that EWT points to areas that also coincide with indicator divergences/signals etc?
 
Yes, I do in fact.
One can not live by one technical tool alone.

Positive and negative divergences sometimes confirm what the waves are projecting.
Actually, when EW/TA coincide it usually creates the best trading opportunites.
 
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