• 3 days How To Invest In The Cybersecurity Boom
  • 5 days Investors Are Patient With Unprofitable Giants
  • 7 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 9 days 5 Stocks To Keep A Close Eye On This Year
  • 10 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 11 days Central America Is Ready For The Bitcoin Hustle
  • 13 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 14 days Top Performing Stocks As Inflation Fears Grow
  • 15 days US Airline Stocks Take A Beating On New EU Restrictions
  • 16 days This IPO Could Open Sustainable Fashion Floodgates
  • 17 days Crypto Crime Nets Another $2B Fraudster
  • 19 days This Week’s Hottest Meme Stocks
  • 20 days Why World Markets Should Be Watching Germany Closely
  • 22 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 25 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 26 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 27 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 27 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 29 days China’s Tycoons Are Getting A Serious Reality Check
  • 30 days U.S. Cannabis Space Heats Up With Telling Tilray Acquisition
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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