The Dollar index,a measure of Dollar against 6 major currencies has been trying to find its bottom since quiet a long time now...Currently at 75.73 after making a recent low of 74.75, dollar will soon have to start appreciating. This would put pressure on commodities & stocks. It is in its 5th of wave C down. Hence the move up in dollar now will be quiet substantial and sustainable. The recent 5th wave move down has been in a trend channel & dollar needs to break this channel on the upside to confirm the uptrend. On the downside dollar should not go below 71, else we have to relook at the bullish view on Dollar index.
