I've been calling for a low from the USD somewhere between $94 and $92 for the longest but honestly I didn't see $92 as highly probable. I'd also need to mention that I've now extended the low all the way down to $91 even though I don't expect it to go that low it is a possibility based on the current wave structure.
At the moment I'm thinking that the latest bounce is 4 of 3 with wave 5 of 3(grey boxes) and waves 4(green box) and 5(red box) still to come. Where it tops here in this 4 of 3 will be important but as long as $97.17 holds lower levels will remain my primary expectation with anything over $96.10 as a clear short signal.
Now with that being said this entire move off the highs just above $100 have all been a larger degree 4th wave with one more high in wave 5 over $100 to come. This clearly coincides with my expectations for lower lows from CL however I try not to depend too much on correlations as they came be misleading when they are not working as expected.
US Dollar, 4th wave triangle is now invalidated and the only count I have remaining looks something like this. After a brief bounce new lows should follow.
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