$ Index, Not the Start of a Major, New Upleg

Quick move higher in the index from the May 4th low at 72.70. However, the downside pattern is still not "complete", suggesting that the recent upmove is a correction, and with a resumption of the declines (and at least marginal new lows) after. From an Elliott Wave perspective, the

U.S. Dollar Index Halts Three-Day Advance, Major Trends Remain In Tact

The near-term correction in the greenback was certainly short-lived as the 244K rise in U.S. Non-Farm Payrolls spurred a rebound in market sentiment, and the dollar is likely to further retrace the advance from earlier this week as risk trends continue to dictate price action in the foreign exchange market.