DXY (Dollar Index) - Bullish Minuette (b) - FED Retracement
DXY is overall still vulnerable and within the down-trend for Minor 4 (black).
As projected in our previous analysis for DXY, Wave X (red) has completed the Right Shoulder (Head & Shoulders Formation) and started Wave Y (red), just as we expected in the FED Rate Decision video.
Minute Wave Y (red) is unfolding as a Zig-Zag within Minuette ABC (turquoise).
Minuette A (turquoise) is about to complete its cycle, as Sub-Minuette Waves ABC (blue) are finalizing, paving the way for the Bullish Retracement Wave, the Minuette (b) (turquoise). Minuette A (turquoise) is already showing the Primary Bullish Divergence and should have a very quick final drop which will confirm the Secondary Bullish Divergence as well.
As projected with the Fibonacci Extensions (blue), Minuette A (turquoise) is finalizing at the 161.8% and 61.8% values, which are also the Levels of the H&S Neckline and Minute Wave W (red) Important Support.
DXY is about to retrace short-term wise and after that it is still expected to drop more for the medium-term.
Minuette B (turquoise) is expected to shoot towards 50-61.8% values on the Fibonacci Retracement (red) of Minuette A (turquoise).
Short-Term BUY:
Entry - 99.45
SL - 99.20 & 98.75
TP - 100.80 & 101.15
Medium-Term SELL:
Entries - 100.80 & 101.15
SL - 101.80
TP - 97.80
As projected in our previous analysis for DXY, Wave X (red) has completed the Right Shoulder (Head & Shoulders Formation) and started Wave Y (red), just as we expected in the FED Rate Decision video.
Minute Wave Y (red) is unfolding as a Zig-Zag within Minuette ABC (turquoise).
Minuette A (turquoise) is about to complete its cycle, as Sub-Minuette Waves ABC (blue) are finalizing, paving the way for the Bullish Retracement Wave, the Minuette (b) (turquoise). Minuette A (turquoise) is already showing the Primary Bullish Divergence and should have a very quick final drop which will confirm the Secondary Bullish Divergence as well.
As projected with the Fibonacci Extensions (blue), Minuette A (turquoise) is finalizing at the 161.8% and 61.8% values, which are also the Levels of the H&S Neckline and Minute Wave W (red) Important Support.
DXY is about to retrace short-term wise and after that it is still expected to drop more for the medium-term.
Minuette B (turquoise) is expected to shoot towards 50-61.8% values on the Fibonacci Retracement (red) of Minuette A (turquoise).
Short-Term BUY:
Entry - 99.45
SL - 99.20 & 98.75
TP - 100.80 & 101.15
Medium-Term SELL:
Entries - 100.80 & 101.15
SL - 101.80
TP - 97.80
Trade closed: target reached