The dollar has plummeted these last two days, fueled in part by Moody’s toothless threat to “review” America’s credit rating. The collapse has come from a top that fell 0.46 points shy of a major target, but not before DXY generated a bullish impulse leg on the higher-level intraday charts. A further decline breaching the 74.12 low recorded on July 3 would hint of a long, trendless stretch ahead, since it would create “dueling” impulse legs on all charts below the monthly.
