Update on DXY (May 3, 2021)

If you have been following my analysis on DXY, you know that I predicted the end of DXY's corrective cycle on the daily chart (Wave 4) at 92.50, and now we are in big wave 5 if we want to look at the bigger picture.

Now looking at the 4H chart, you can see that DXY finished 3 waves down and retested the previous wave IV with wave 4, thus I expect DXY to continue its way down for more weakness as according to the Elliott Wave Principle, the previous wave IV is known to be a very critical support or resistance level.

Buy all Dollar-denominated pairs...