I’ll be the first to admit I’d have expected a correction in the US dollar by now.  Don’t get me wrong, NFTRH was on the fledgling USD rally last summer when it was still considered by many to be just another beaten up combatant in the currency wars.  But in thinking it had gone too far on over bullish sentiment, I was wrong in January. 

Indeed, as noted a couple weeks ago in NFTRH 331:  

“I continue to be proven wrong in expecting the US dollar to correct. Further, at this juncture the weekly chart pattern looks more like an over bought consolidation than a top.”

Moving on, the consolidation worked off the over bought situation by daily charts (weekly remains over bought) and today USD is making a new high.

As for the Euro, the monthly works best to see where this thing may be headed. 

As noted in NFTRH 332:  

“Euro has failed to bounce by shorter-term charts and so the monthly is back in play with the lower channel line beckoning.”

With Uncle Buck’s break upward, this still looks to be the case.