ðââïļThe DXY index is moving in the Ascending Channel and seems to have broken the ðīHeavy Resistance zone($105.88-$104.65)ðī, and is currently moving in a small Descending Channel and making a pullback to this zone.
ðAccording to the theory of Elliott waves, it seems that the DXY index has succeeded in completing the Zigzag correction(ABC/5-3-5) inside the descending channel.
ðĄAlso, we can see Regular Divergence(RD+) between two Consecutive Valleys.
ðI expect the DXY index to Gp UP to at least the ðĩGAP($106.613-$106.504)ðĩafter breaking the upper line of the descending channel.
âïļâ ïļNoteâ ïļâïļ: If the DXY index can break the lower line of the descending channel, we can expect the DXY index to drop more.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frameâ°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
ðAccording to the theory of Elliott waves, it seems that the DXY index has succeeded in completing the Zigzag correction(ABC/5-3-5) inside the descending channel.
ðĄAlso, we can see Regular Divergence(RD+) between two Consecutive Valleys.
ðI expect the DXY index to Gp UP to at least the ðĩGAP($106.613-$106.504)ðĩafter breaking the upper line of the descending channel.
âïļâ ïļNoteâ ïļâïļ: If the DXY index can break the lower line of the descending channel, we can expect the DXY index to drop more.
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frameâ°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
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I expect the DXY index will touch and break the upper line of the descending channel.