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zhipengcfel
16 Th04 2016 17:21

DXY finished the correction wave (4)-A 

U.S. Dollar Currency IndexTVC

Mô tả

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!
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avento
Support zone has been broken... Downtrend continues?
zhipengcfel
I do not think so. It is just a false break. Now it is back to the supported zone.
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