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Home » Unlabelled » US Dollar on the Verge of Failure

US Dollar on the Verge of Failure

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This is a weekly chart of the U.S. Dollar Index (DXYO) dating back to 2002. With horizontal lines I have identified the support breaks that lead to the conclusion of each of gold's past 5 C waves (identified with a green arrow and its date). 
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A couple of these breaks sent the dollar lower for 4 weeks, a couple sent the dollar lower for 6 weeks, and one for about 8 weeks.
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Click on the chart to ENLARGE
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Today we find the US Dollar on the precipice of another support break that I expect will propel gold to the conclusion of the current C wave.
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The dollar has been declining steadily for the past 10 weeks (since January 1) despite incredible world turmoil, the Japanese situation being the most recent.  I have no doubt the trend line currently supporting the dollar will be broken soon and the conclusion of the C wave will begin.


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