Dollar index at inflection point

INDEX:DXY   U.S. Dollar Index
194 4 2
The pennant on the chart is on the verge of a break.
Proceed with caution as one needs to wait for the confirmation yet.
But the price action and the fundamental factors/ economic noise around looks ripe to push this above.

If confirmed, we should see a good rally towards 100 level.
Implications: Commodities will suffer (Read: oil             and gold             )
Fed hike will be postponed if the move happens to be swift and decisive.
I see this pennant and therefore what you see now
Kaustubh WallStScalper
Thanks Lawrence. Nice to see some Elliot wave analysis on this.
+1 Reply
Thank you2!
ManojKumarShaw WallStScalper
Sir us dollar index is weak.

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