ðââïļThe DXY index has been moving in a Descending channel for a month.
ðAccording to Elliott's theory, it seems that the DXY index has completed its 5 downward waves near the lower line of the descending channel after breaking the ðĒSupport zone($103.78_$102.93)ðĒ.
ðĄAlso, we can see Regular Divergence(RD+) between two Consecutive Valleys.
ðĄI expect the DXY index to move towards the upper line of the descending channel and in the first step, we have to wait for the middle line of the descending channel to be broken (the middle line has already played the role of support and resistance).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frameâ°.
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