The U.S. Dollar has continued to rally as the dollar bulls still seem to have plenty of gas in the tank. Despite today’s pullback from the 81.20 level on the front-month contract of the U.S. Dollar Index, the uptrend is still intact across the 60 and 240-minute time frames. Even more significant is that fact that the daily chart’s bullish sentiment and momentum has finally transitioned the end-of-day time frame into a mark up market phase as the 34EMA Wave has taken on a more “twelve to two o’clock” Wave angle. This is a “fresh” transition however since the Wave is not established in this angle but there is no denying the momentum as the U.S. Dollar Index surges towards what seems like an inevitable test of the 200 period SMA on the daily at 81.95.
In today’s video I discuss the flat Dow Jones and the dollar as well as my continued focus on the five-minute set up and some nuances on how to differentiate the between the angles on the five-minute chart for ideal “Between the Greens” entries.
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