As I expected in the previous post, DXY completed wave 5 at the bottom of the descending channel and the 🟢support zone($ 101.3-$ 100.82)🟢.👇✅
It seems that DXY intends to break the upper line of the descending channel after a short break in the middle of the descending channel.
According to the theory of Elliott Waves, the DXY correction structure is a type of Zigzag correction(ABC/5-3-5).
The end of this zigzag correction or break is expected to end near the middle line of the descending channel or the 🟢support zone($ 101.3-$ 100.82)🟢, and then DXY will grow again at least to the upper line of the descending channel (probably DXY will break descending channel this time).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 2-hour time frame⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
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