Veejahbee
Short

DOLLAR INDEX SET A STAGE FOR A MASSIVE BEARISH REVERSAL.

TVC:DXY   U.S. Dollar Currency Index
Just like the case of EURUSD I just published, a massive bearish reversal should be expected on USD INDEX.
Dollar Index is negatively correlated with EURSUD, that's most of the time if EURUSD is trading higher otherwise will be the case for Dollar.

For most pf 2019, DXY has been making an overlapping pattern while trading higher, which in Elliot wave only suggest an Ending Diagonal structure.
Last week price action revealed that the market trade sharply above the upper trendline of the diagonal structure "throw-over" and then close lower for the week. The throw-over usually indicate the completion of the ending diagonal pattern and lead to a massive reversal.

Wave (c) also equals 61.8 Fib extension of wave (a) which is a common characteristic of completion of a zigzag pattern. As long as 99.37 remains intact, price should be making a short-term high and long-term low. The target for the bears lies below Feb 2018 low at 88.25.

The break below wave (iv) low or wave (ii) & (iv) ascending trendline will confirm the long-term bearish reversal.
your going to see a massive bull rally tomorrow around 6
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Veejahbee LuisLizama
@LuisLizama, It seems the bears are taking control already.
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very nice analysis
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Veejahbee sh-moh97
@sh-moh97, Thank you!
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