US Dollar Index Mid-Term Update

I am not sure if what I have labeled as Wave 2 Green is actually only Wave A Blue of Wave 2 Green. This would imply we are nearing the end of a Wave B Blue. If we see the high of Wave 1 Green exceeded, there is a good chance of a breakout much higher.

Long Term Dollar Index Wave Count

 

Wave 2 Blue in 2008 was set 17 weeks after the dollar bottomed in March of 2008. Next week will be week 17 since Wave 2 Pink set it's low this May. Also the last three weeks have seen closes at the weekly downtrend trendline. As you can see from 2008, once a major trendline is broken, a massive move in the direction opposite of the previous trend takes place. This would confirm my view that we are about to enter Wave 3 Pink to the upside.