As we can see DXY was in falling wedge past couple months and it had a breakout around 2018/MAY. Breakout was so sweet and valid enough to raise the index price near Fibonacci Extension Level: 38.20% (92.87) and it was also the first ever impulse or motive wave of our Elliott wave 0 to 1. After reaching the 1 it made a small corrective wave 2 below the Fibonacci Extension Level: 38.20% (92.87) and again continued its upward momentum and here our Elliott wave is making the second impulse or motive wave 3 which indicate now clearly that overall our DXY is having a valid uptrend (Bullish) and seeing how perfectly it following the path of each wave and admiring the Fibonacci Extension Level I guess the trend will overall make to the Fibonacci extension level: 78.60% (97.68) or above in further weeks or months if it's really following and respecting the path and level of wave and fibo extension respectively.
Kommentera:
May 30
Kommentera:
DXY trying to complete 5th wave and Fibo Extension 78.60%.