• 15 hours These Millionaires Are Looking To Close The Income Gap
  • 19 hours Huawei Given The Green Light To Build 5G Network In The UK
  • 21 hours Five Things To Watch In The Battery Metals Market
  • 23 hours What Investors Need To Know About The Coronavirus
  • 2 days General Motors To Spend $2.2 Billion On Detroit Electric Vehicle Plant
  • 2 days Copper Slides Under Coronavirus Concerns
  • 2 days Low Gold Miner Valuations Reveal Upside Potential For The Industry
  • 2 days JPMorgan Urges Investors To Buy The Coronavirus Dip
  • 2 days The Survival Of A $2.7 Trillion Market Rests On This Tiny Niche
  • 3 days U.S. Moves To Bar Iranians From Investor Visas
  • 4 days Why Germany Is Going To War With Gold
  • 5 days Gold Is Still Cheap Compared To Stocks
  • 6 days Are Cryptocurrencies Funding Terrorism?
  • 6 days Promising Oil Companies To Watch In 2020
  • 7 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 7 days Tesla Stock Continues To Soar
  • 8 days What New Economic Data Reveals About Gold's Trajectory
  • 9 days The Lucrative New Tech Hijacking Your Privacy
  • 9 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 10 days Trade War Takes Its Toll On Shipping
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

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 - 07/19

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, Minute wave ((ii)) ended at 96.2, and Minute wave ((iii)) ended at 94.47. 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, Minutte wave (iii) ended at 95.01, Minutte wave (iv) ended at 95.24, and Minutte wave (v) of ((iii)) ended at 94.47.

Currently Minutte wave ((iv)) is in progress to correct cycle from 7/10 high, and while pivot at 7/10 high holds, expect Index to turn 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

ABC 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 Elliot-Wave Forecast

Back to homepage

Leave a comment

Leave a comment