Considering whats happening fundamentally to the long term projection of this currency, i am leaning towards an upward push still as the last structure i had published had been invalidated. Now that we have a bit more data, we can see the possible completion of a 5 wave cycle and its only natural for it to correct the current down swing in the coming weeks. How long the correction will last is anybodies guess, but long term short target will be around the .8300 region. Current details suggest that if this count is correct which i am sticking with my analysis to this point then we will be looking at shorting XXXUSD crosses and vice versa. Always stick to your plan and trade your plan and only trade what you recognize. This is the updated count to my previous post on the DXY. Good Luck.
Comment:
We have reached the lower boundary, we will see if this is a psychological reversal point in the coming days, its Friday so enjoy the weekend.
Comment:
Dxy over extending the 5th wave a bit, could possibly be an extended 5th wave. Pull back is imminent that could last more than a few weeks all the way up to presidential elections time would be my wild forecast. Structure is still valid.
