USD/PEN s/ 3.7012; Bitcoin $41205; Gold $1950 an oz.; Oil $100 a barrel
Yesterday Dollar/ Sol opened at 3.790, hit an intraday high of 3.7439, and closed at the 3.7039 Bloomberg. So far the US Dollar is down -7.25% year to date and -10.6% since the 4.14 Sept. 2021 high. But there is a good chance the Greenback has finished its downtrend from the 4.14 2021 high.
Five waves at Intermediate Degree are most likely done at the 3.60 2022 low. The move new move up made it through the Intermediate degree (2-4 off 3) upper channel trend line– the first sign Cycle Degree-A is complete and Cycle Degree-B is on its way. Notice that the impulse up from the 3.61 22’ low is correcting in what should be Minor Degree-2. Once complete the ensuing 3rd wave should take the pair to the 3.81 for Minor Degree-3.
Cycle Degree-B’s 61.8% retrace is at the 3.9428. From there, the dollar is expected to tumble in either a Cycle degree-A or 2.