WaveSavvyTrades

DXY WAVE ANALYSIS (CURRENT PICTURE)

Long
TVC:DXY   U.S. Dollar Index
Following the recent correction of the DXY to the 100.80 level, the symbol has recently made a leg up to the 105.8 level. This leg up fits with what can be described with the Elliot wave hypothesis. After reaching the 105.8 level, the price has retreated to the 103 levels and it is approaching the 0.68 fib level (the top of the support zone). With vote on Sunak's brexit deal (which we already no the outcome) and the FED coming up. I expect the DXY to find support in the marked support zone. If the support zone holds and price reverse up from there, the dollar could be very bullish, and the next leg up would likely be higher than the current.

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