I posted an elliott wave analysis on usdollar month chart months ago and mentioned that dxy is in wave 4 correction.
It seems that DXY has completed the wave 4-A because of the ending wedge, bullish bat pattern and support zone. The wave 4-B might bounce up to 96.5. Afterwards it might return back to complete the wave 4-C.
Notes: Pay attention to the upper resistance line of the wedge. If it breaks, it will confirm the wave B up. If the support zone breaks, it will confirm the down trend and this analysis will be invalid.
Good luck for everyone!
Notes: Pay attention to the upper resistance line of the wedge. If it breaks, it will confirm the wave B up. If the support zone breaks, it will confirm the down trend and this analysis will be invalid.
Good luck for everyone!
