Elliott Wave - Dollar Index (Monthly) - 26 Nov 10

     With so much attention lately on the dollar and currencies I thought I would use the next couple of postings to explore the US Dollar Index further. Today's monthly chart shows a complete five wave impulse pattern down from the July 2001 high.
     The impulse wave ended at the March 2008 low. From there we popped higher in a five wave sequence that I have labeled as wave (1) or (A). As of today we don't have a good reason (from the monthly chart) to believe that wave (2) or (B) is complete. Therefore, the action since March 2009 will be reviewed next time using the weekly chart.