On daily chart, DXY is going to finish a huge 5-wave trend.
The father-wave 5 finished at fibo 1.618 with some bullish powerfull candlesticks.
At least one thing is pretty sure, a trade with small risk is going to happen on DXY if you trade on it. This is the clue for our trades on other pairs.
hi,
if not this, then next year should EURUSD reach at least 1.2474 therefore I expect that we could see DXY a little bit deeper ... but the next time, should go up to EMA 20 on a monthly basis (around 96), then falling again to about 88.42
my view - BIG PIC
figureofspeech
⋅
hi, firstly thanks for posting your charts. i am learning and they are helping a lot. one question, in the green subdivision of wave 3 you have wave 4 passing in to the area of wave 1, do you find that in some cases you have to make allowances like this with the Elliot wave principle for it to work correctly? thanks matt.
FUNTRADER-Vera
⋅
@figureofspeech, thank you for your questions.
I dont really follow Elliot WAVE rules.
if not this, then next year should EURUSD reach at least 1.2474 therefore I expect that we could see DXY a little bit deeper ... but the next time, should go up to EMA 20 on a monthly basis (around 96), then falling again to about 88.42
my view - BIG PIC