DXY – Short break in the south postponed?

Hello everyone,

As mentioned in my EUR/USD analysis the structure in the chart is not very beautiful. I think that the DXY has space on the upside to 98/100 before it will go down.

Scenario 1 – green line, chance 65%

Actually, my preferred scenario. DXY is completing corrective wave (a) in the region around 98/100.

Scenario 2 – red line, chance 35%

We have seen the end of wave (a) already and the DXY is moving down.

Sore point on the upside: 97.69 (yellow bar)
Sore point on the downside: 96.04

Everything between is no mans land. I think the FED meeting will give us more clearness in due time.

Please leave a comment or a message, if you have any questions!

Take care
tgo