• 1 day Goldman Slashes Oil Price Forecast By $10
  • 2 days Tesla Raises $2 Billion In Share Selloff
  • 3 days What The T-Mobile Takeover Of Sprint Really Means For Markets
  • 3 days The U.S. Has Charged Huawei With Racketeering And Conspiracy
  • 3 days How Hydrogen Could Become The Fuel Of The Future
  • 4 days Millennials Can’t Retire, But They’ll Still Have To Help Their Parents
  • 4 days This Gold Miner Just Increased Its Dividends By 40%
  • 4 days Airbnb IPO Under Threat As China's Economy Drags
  • 5 days The Infamous Equifax Hack Just Became A National Security Issue
  • 5 days BHP Takes The Crown As World’s Top Copper Miner
  • 5 days Tesla Reopens Chinese Factory After Coronavirus Scare
  • 6 days Armed Troops Storm El Salvador’s Parliament
  • 6 days Is A New Housing Bubble Forming?
  • 6 days The Biggest Challenge Facing West Africa's Single Currency Plan
  • 6 days Iran's Space Program Hits Another Snag
  • 7 days The Politics Of Love In The Digital World
  • 7 days Coronavirus: Much Ado About Nothing?
  • 8 days Are Silver Stocks Poised For A Breakout?
  • 8 days Is This The Tesla Of Motorcycles?
  • 9 days Is This The Biggest Threat To The Global Economy?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

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