zhipengcfel

DXY finished the correction wave (4)-A

TVC:DXY   The U.S. Dollar Index
I posted an elliott wave analysis on usdollar             month chart months ago and mentioned that dxy             is in wave 4 correction.
It seems that DXY             has completed the wave 4-A because of the ending wedge , bullish bat pattern and support zone . The wave 4-B might bounce up to 96.5. Afterwards it might return back to complete the wave 4-C.

Notes: Pay attention to the upper resistance line of the wedge . If it breaks, it will confirm the wave B up. If the support zone breaks, it will confirm the down trend and this analysis will be invalid.

Good luck for everyone!
Support zone has been broken... Downtrend continues?
+1 Reply
I do not think so. It is just a false break. Now it is back to the supported zone.
+1 Reply
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