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DXY Elliott Wave View: Double Correction

By () · September 21, 2017 · Comments Off on DXY Elliott Wave View: Double Correction
Forex Market Overview · DXY, Elliott Wave Theory, ElliottWave, Forex, US dollar, USDX

DXY Short Term Elliott Wave view suggests that the decline to 91.01 ended Primary wave ((3)). Primary wave ((4)) bounce remains in progress as a double three Elliott Wave structure. Up from 91.01, Intermediate wave (W) ended at 92.66 and Intermediate wave (X) ended at 91.591. Near term, while pullbacks stay above 91.591, expect Index to extend higher towards 93.227 – 93.618 area to complete Primary wave ((4)). Afterwards, Index should resume the decline lower or at least pullback in 3 waves. We don’t like buying the proposed bounce.

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