Friday, April 21, 2017

French Election Connection

Significant Dollar Index strength was signaled in late March by the declining wedge E-Breakout pattern which had closed the big downside gap left over from 2016.

On Thursday, a down day for the Dollar, an uptrend line from last year held firm and augmented the E-Point by morphing it into a simple ABC pattern C-Point. There are also two intra-day upside gaps likely to be filled sooner rather than later.

The French election process may somehow negate all of this power, but for now, the Dollar is strong.

Stay Tuned!

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