US Dollar Daily Heads Higher – Hits Channel Resistance

USD Index Daily -

The US Dollar closed up today.   The MACD remains turned back up – bullish.  The 8MA also remains up - bullish.  The Euro, British Pound and Canadian Dollar were all down today.  The Yen was the lone counter force against the US Dollar closing sharply up.  We have said this for some time - the US Dollar is most heavily weighted against the Euro, followed by the Yen and the Pound and then the Canadian Dollar – about 93.1% combined weighting against the US Dollar.  When the Euro, Yen, Pound and the Canadian Dollar turn down (all four have completed wave 2 up and are in wave 3 down), we expect to see the US Dollar rocket – three of four resulted in a rise in the US Dollar. A continued rise in the US Dollar should continue to turn markets and commodities down sharply.  We expect the US Dollar to head well beyond 84.00 in the near term.

Click on chart to enlarge US Dollar Daily Heads Higher – Hits Channel Resistance