DXY - A third-wave decline (long-term)
Zaktualizowano
Dollar Index
A third-wave decline might be at the early stages
It seems like a wave (2) might have been in place, so we could be at the beginning of wave (3). If correct, the market should break the low of wave (1) in the weeks to come. At the same time, we can’t rule out that wave (2) might be a little bit longer, possible as a flat pattern.
We will continue considering this option as an alternate scenario.
A third-wave decline might be at the early stages
It seems like a wave (2) might have been in place, so we could be at the beginning of wave (3). If correct, the market should break the low of wave (1) in the weeks to come. At the same time, we can’t rule out that wave (2) might be a little bit longer, possible as a flat pattern.
We will continue considering this option as an alternate scenario.
Uwaga
Uwaga
Wave 2 might have been in place, probably in the form of a zigzag. In this case, another bearish wave might be already underway.
Uwaga
However, we should also keep an eye on the alternate wave count (shown on the 15m chart above).
Zlecenie aktywne
The advance suggests that the fifth wave of wave ((a)) is over. Broadly, the market should continue unfolding a zigzag for wave Y of (2).
Uwaga
Upward impulse ended – (ST)
A bullish impulse in wave ((a)) of Y is over. In this case, the market should begin unfolding a local bearing correction, which is supposed to be wave ((b)) of Y. Wave (2) is likely taking the form of a double zigzag.
Uwaga
Bearish correction is in play
It seems like there’s an ending diagonal, which is supposed to be the fifth wave of wave ((a)). If correct, wave ((b)) might be underway, so the market is likely going to continue developing wave (a) in the next couple of hours.
Uwaga
Bearish correction might be in play.
The fifth wave of wave ((a)) is likely over, so wave ((b)) might be underway, which means the market is going to continue developing wave (a) in the next couple of hours. If correct, Friday’s low should be broken in the coming hours.
Uwaga
A downward correction is underway
The fifth wave of wave ((a)) has finished in the form of an ending diagonal. If correct, the current decline is likely a bearish impulse for wave (a). In this case, the market should continue unfolding wave iii of (a) in the short term.
Zlecenie aktywne
The bullish impulse might be over
This week's decline boosts the idea that wave (2) might be in place. If we have a five-wave price movement in a position of wave ((iii)), there’ll be even more evidence for the bearish scenario.
Uwaga
Money printer go BRRRRRZlecenie aktywne
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