• 6 hours Can The British Pound Overcome Brexit?
  • 12 hours Is A Gold Breakout Near?
  • 1 day Federal Reserve Downgrades U.S. Growth And Cuts Rate Hikes
  • 1 day Disney Beats Out Comcast In $71.3B Mega-Merger
  • 2 days The Feds Continue To Prop Up Equities Markets
  • 2 days Bejing's Sway In South China Sea Is Fading
  • 2 days Saudis Eye Billions As Stocks Get Emerging Market Boost
  • 2 days Airbnb In Acquisition Mode Ahead Of IPO
  • 3 days Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 3 days Champagne Sales Slow As European Economic Worries Grow Louder
  • 3 days Putin Signs “Digital Iron Curtain” Into Law
  • 3 days Russian Metals Magnate Sues U.S. Over Sanctions
  • 4 days Tesla Looks To Jump Into Indian Market
  • 4 days Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 4 days Homeowners Experiment With Risky New Investment Trend
  • 4 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 5 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 5 days Ford CEO Gets Raise After Massive Layoff Round
  • 5 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 6 days Where To Look As Gold Miners Inch Higher
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

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

DXY Dollar Index Elliott Wave View: Bearish below 93.36

DXY Dollar Index Short Term Elliott Wave view suggests that the decline from 8/16 peak is unfolding as an Ending Diagonal Elliott Wave structure. Down from 8/16 high, Minor wave 1 ended at 91.62 and Minor wave 2 ended at 93.347. Minor wave 3 is unfolding as a double three Elliottwave structure. Minute wave ((w)) of 3 ended at 91.01 and Minute wave ((x)) of 3 is in progress. The internal subdivision of Minute wave ((x)) shows a zigzag Elliottwave structure. Minutte wave (a) of ((x)) ended at 91.62 and Minutte wave (b) of ((x)) ended at 91.41.

The Index has reached an inflection area where Minutte wave (c) = Minutte wave (a) and thus cycle from 9/8 low is mature. Expect Minute wave ((x)) of 3 to end at 92.02 – 92.4. While bounces stay below 93.36, Index should resume lower or at least pullback in 3 waves. We don’t like buying the Dollar Index.

DXY 1 Hour Elliott Wave Chart

(Click to enlarge)

Ending Diagonal typically happens inside wave 5 of an impulse Elliottwave structure or inside wave C of a zigzag. Ending Diagonal has 5 waves subdivision and each wave is further subdivided into 3 waves. Thus Ending Diagonal has the structure of 3-3-3-3-3.

Back to homepage

Leave a comment

Leave a comment