The DXY follow up June 14th 2023
The DXY is slowing down on its uptrend.
Price is back below the 3D21ema. However, the 3D macd is still positive suggsting that the uptrend is still intact.
A new pattern, Triangle formation or wedge , could emerge if the pullback continues down to ~101-100.5
If the current move from the 100.5 is to be a 5wave structure, price will need to hold at or above the 0.618fib at ~102.4.
If it breaks the 102.4, then the chance of printing a triangle or wedge will increase.
The DXY pattern slightly looks like the NASDAQ flat correction, which ended up being a single 5waves impulse (from the Oct low 10440) instead of a flat.
The DXY is slowing down on its uptrend.
Price is back below the 3D21ema. However, the 3D macd is still positive suggsting that the uptrend is still intact.
A new pattern, Triangle formation or wedge , could emerge if the pullback continues down to ~101-100.5
If the current move from the 100.5 is to be a 5wave structure, price will need to hold at or above the 0.618fib at ~102.4.
If it breaks the 102.4, then the chance of printing a triangle or wedge will increase.
The DXY pattern slightly looks like the NASDAQ flat correction, which ended up being a single 5waves impulse (from the Oct low 10440) instead of a flat.
