Latest Video and Dollar Euro Update

Published: Fri, 12/04/15

Latest from Indiacharts

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Markets still holding out despite volatility

Dollar index

For some time I have written that the dollar would top. Now that we have a double top at 100.50 the next question is whether the dollar will go into a larger decline. The Popular view is that the dollar will continue to strengthen longer term. If that is true then the chart below shows what the recent top means. It means that wave 5 up never started. We are still in wave 4 which can form a multi-month triangle. This could keep the dollar go down to 95 odd. The wave A low at 92.50 would be key for the overall picture. A move below that could mean that we have a longer term top in the dollar. Else we could spend the next 6 months between 95-100.50 forming a triangle before wave 5 up can start.

dollar041215

Euro

As seen today, unless the ECB comes up with more the best might have been done here. So unless the Yen Pound or other components of the dollar index can make it move, the Euro itself does not give a clear long term sell signal. We will need more evidence that after an A-B-C 3 waves decline since 2008 there is more downside to the Euro. Till there is proof we should be in an up trend for the Euro. If nothing else an X wave that can be complex. The rally in early 2015 in the Euro would have been wave 4 of C and this last dip recently was wave 5 of C. So we should now be looking at a possible major trend reversal for the Euro.

euro041215

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Rohit Srivastava
www.indiacharts.com
For accurate market forecasting. Market forecasting is a study of past data to assess
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