#DXY following days analysis
Here’s what we could expect from DXY in the coming days:
This extended bullish move is likely wave A of an ABC corrective structure to complete wave 4. Given the clear bearish divergence between price and the oscillator, we are likely nearing the top of wave A.
From here, we could see a bearish move, which would be corrective in nature and related to the higher degree trend. However, this phase might be tricky for short-term traders as it could be choppy and manipulative.
Following this, we can expect another bullish leg to complete wave C of the ABC pattern.
Let’s see how DXY develops in the coming days.
This extended bullish move is likely wave A of an ABC corrective structure to complete wave 4. Given the clear bearish divergence between price and the oscillator, we are likely nearing the top of wave A.
From here, we could see a bearish move, which would be corrective in nature and related to the higher degree trend. However, this phase might be tricky for short-term traders as it could be choppy and manipulative.
Following this, we can expect another bullish leg to complete wave C of the ABC pattern.
Let’s see how DXY develops in the coming days.
Uwaga
This Elliott wave analysis is still valid. For this idea to manifest we should see a market structure shift to bearish at least in 1H timeframe. If this analysis looses its validity I let you know under this post.
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