#USDollar May Recover ALong Wolfe Wave | $USD #euro #forex
Friends,
A punishing day that was for the US Dollar today, upon central bank words that a rate hike would likely be delayed.
The move in the USDollar index weaved a familiar Wolfe Wave geometry, completing at its Point-5, as shown in the following chart:
Based on this 4-hour chart, one should consider the probability of a reactive rally. Look for a commitment (BACA) across the 1-3 Line, with a high-probability attainment of the 1-4 Line, the exact price level being likely at a corresponding 0.618 or 0.786 Fibonacci value.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
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Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.
A punishing day that was for the US Dollar today, upon central bank words that a rate hike would likely be delayed.
The move in the USDollar index weaved a familiar Wolfe Wave geometry, completing at its Point-5, as shown in the following chart:
Based on this 4-hour chart, one should consider the probability of a reactive rally. Look for a commitment (BACA) across the 1-3 Line, with a high-probability attainment of the 1-4 Line, the exact price level being likely at a corresponding 0.618 or 0.786 Fibonacci value.
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
-----
Twitter:
@4xForecaster
LinkedIn:
David Alcindor
-----
.