DXY Is Still Bearish, but it can be trading in final leg of ending diagonal a.k.a. wedge pattern from technical and Elliott wave perspective.
US Dollar Index – DXY made only a three-wave rise from the lows, which indicates for a correction within downtrend. So recovery can basically still be a fourth wave rally, just a bit deeper one that can still belong to an ending diagonal a.k.a. wedge pattern. Final wave “v” of 5 can be still missing, so be aware of a continuation lower within a new three-wave abc decline, especially if breaks below the lower side of the corrective channel near 97.70 level.
US Dollar Index – DXY made only a three-wave rise from the lows, which indicates for a correction within downtrend. So recovery can basically still be a fourth wave rally, just a bit deeper one that can still belong to an ending diagonal a.k.a. wedge pattern. Final wave “v” of 5 can be still missing, so be aware of a continuation lower within a new three-wave abc decline, especially if breaks below the lower side of the corrective channel near 97.70 level.
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US Single STOCKS (FREE Access), FX, Crypto
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Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
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Newsletter Sign up
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.