The US dollar index weekly view is below. The fact the dollar could not sustain a rally despite the much stronger than expected US jobs report might be saying a lot; we don't know yet but the rational man would have expected much more given the setup and the rising yield differential in favor of the dollar. There is an increasing probability the dollar index is tracing out some type of wedge pattern; if so a multi-week move lower is in the cards. Wave E to complete the wedge down near 91?
US Dollar Index Weekly Wave View - Lower before higher?
The fact the dollar could not sustain a rally despite the much stronger than expected US jobs report might be saying a lot.
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