• 641 days Will The ECB Continue To Hike Rates?
  • 641 days Forbes: Aramco Remains Largest Company In The Middle East
  • 643 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,043 days Could Crypto Overtake Traditional Investment?
  • 1,047 days Americans Still Quitting Jobs At Record Pace
  • 1,049 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,052 days Is The Dollar Too Strong?
  • 1,053 days Big Tech Disappoints Investors on Earnings Calls
  • 1,054 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,055 days China Is Quietly Trying To Distance Itself From Russia
  • 1,056 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,059 days Crypto Investors Won Big In 2021
  • 1,060 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,060 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,063 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,063 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,066 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,067 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,067 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,069 days Are NFTs About To Take Over Gaming?
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliot Wave Forecast - 07/18

Short term DXY (USD Index) Elliott Wave view suggests the decline from 6/20 peak (97.87) is unfolding as a Zigzag Elliott Wave structure. Down from 97.87 high, decline to 95.47 ended Minor wave A, and bounce to 96.51 high ended Minor wave B. Wave C is unfolding as an Elliott wave Impulse structure with extension where Minute wave ((i)) ended at 95.75 and Minute wave ((ii)) ended at 96.2. Minute wave ((iii)) is subdivided into another impulsive wave of a smaller degree. Minutte wave (i) ended at 95.51, Minutte wave (ii) ended at 95.98 and Minutte wave (iii) is currently in progress. Expect Minutte wave (iii) to end at 94.3 – 94.7 area, then the Index should bounce in Minutte wave (iv) before turning lower again. We don’t like buying the Index and expect bounces to find offer in 3, 7, or 11 swing for more downside.

DXY 1 Hour Elliott Wave Chart

A-B-C Structure 

According to Elliott wave theory, Zigzag is a 3 wave structure having internal subdivision of (5-3-5) swing sequence. The internal oscillations are labeled as A, B, C where A = 5 waves, B = 3 waves and C = 5 waves. This means that A and C can be impulsive or diagonal waves (Leading Diagonal in the case of wave A  or Ending Diagonal in the case of wave C). The A and C waves must meet all the conditions of 5 waves structure, such as: having an RSI divergence at the fifth wave, ideal Fibonacci extensions, ideal retracements etc.

As the graphic below shows, we can see what Elliott Wave Zig Zag structure looks like. 5 waves down in A, 3 wave bounce in B and another 5 waves down in C.

By Elliotwave-Forecast

Back to homepage

Leave a comment

Leave a comment