EW Analysis: USD Index Is Looking Lower Within A Five-Wave Cycle
Hello traders and investors!
DXY – USD Index is in an impulsive decline and seems like there's room for more weakness to complete a five-wave cycle from November highs, ideally once a wave (4) fully unfolds.
While we are approaching the end of the year, we may see a slow down in wave (4) during holidays due to end of the year flows, position/portfolio adjustments, which can be either a flat or triangle correction before a continuation lower for wave (5).
Technically speaking, as long as it's trading below 92.0 level, we have to expect more weakness, because there's no reason to fight the trend.
Be humble and trade smart!
If you like what we do, then please like and share the idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
DXY – USD Index is in an impulsive decline and seems like there's room for more weakness to complete a five-wave cycle from November highs, ideally once a wave (4) fully unfolds.
While we are approaching the end of the year, we may see a slow down in wave (4) during holidays due to end of the year flows, position/portfolio adjustments, which can be either a flat or triangle correction before a continuation lower for wave (5).
Technically speaking, as long as it's trading below 92.0 level, we have to expect more weakness, because there's no reason to fight the trend.
Be humble and trade smart!
If you like what we do, then please like and share the idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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