• 708 days Will The ECB Continue To Hike Rates?
  • 708 days Forbes: Aramco Remains Largest Company In The Middle East
  • 710 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,110 days Could Crypto Overtake Traditional Investment?
  • 1,114 days Americans Still Quitting Jobs At Record Pace
  • 1,116 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,119 days Is The Dollar Too Strong?
  • 1,120 days Big Tech Disappoints Investors on Earnings Calls
  • 1,121 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,122 days China Is Quietly Trying To Distance Itself From Russia
  • 1,123 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,126 days Crypto Investors Won Big In 2021
  • 1,127 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,128 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,130 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,130 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,133 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,134 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,134 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,136 days Are NFTs About To Take Over Gaming?
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