The anticipated triangle wave 4 was not to be. The dollar has traded above 90.93 suggesting wave 5 might have have completed at the 16/02/18 low. A break of 92.496 will reinforce this idea as it invalidates the possibility we are still in a wave 4. Currently in a correction higher in what looks like a flat in progress with wave iii of C in progress
I can count bounce from 1/4/18 low as 3 up complete. Wave 4 has met it's minimum requirement but could still move lower to around 7683.A close and hold above 8063 increases confidence of a wave 5 in progress. Price fall below 7520 will invalidate count. If correct, expect wave 5 to extend to between 9181 - 9349.
Marked level at 6039 still holds. If price breaks and holds above 9181.44 it will add confidence to the bullish argument and expose 11765 as a possible target. Look out for a 5 wave count on a lower timescale as this would strongly suggest a bottom is in place
Doller index seems to be in a triangle holding pattern minor wave four If correct then wave wave in blue is still pending
Price has broken the trend line drawn from March high. The RSI has a bullish divergence signature. Possible higher prices if price holds above 6039