DXY Short Term Elliott Wave view suggests that the decline to 88.44 ended Intermediate wave (3). Intermediate wave (4) bounce unfolded as a flat Elliott Wave structure. Up from 88.44, Minor wave A ended at 89.64, Minor wave B ended at 88.55, and Minor wave C of (4) appears complete at 90.03. Near term, while bounces stay below 90.03, expect Index to resume lower or at least do a 3 waves pullback to correct cycle from 1/25 low. We don’t like buying the Index.
DXY 1 Hour Elliott Wave Chart
. Intermediate wave (4) bounce unfolded as a flat Elliott Wave structure. Up from 88.44, Minor wave A ended at 89.64, Minor wave B ended at 88.55, and Minor wave C of (4) appears complete at 90.03. Near term, while bounces stay below 90.03, expect Index to resume lower or at least do a 3 waves pullback to correct cycle from 1/25 low. We don’t like buying the Index.){kind=link}