Forex Trading Library

Elliott wave analysis 16-03-18 – Dollar Index (DXY) – Bearish Corrective Structure “winking” at 87.30

By Richard Tataru Last updated Oct 31, 2021

Dollar Index (DXY) current Wave Count and labeling of the Corrective Structure points towards a possible Double Three scenario, in which DXY could be poised for further weakness ahead.

The screen-shot below contains an in-depth view and multiple explained facts, from an Elliott Wave and technical standpoint.

DXY – 2H Chart as shown above.

During the current market conditions and uncertainty caused by Fundamentals, investors seem to be heading towards more of a safe-haven assets and currencies.

USD/JPY – 2H Chart:

USD/CHF – 2H Chart:

Many pips ahead!

DYX

Richard Tataru

Richard is passionate about technical analysis with years of charting experience under his belt. When it comes to his insights and how he analyses the markets, he uses leading analysis tools. In particular, Elliott Wave Analysis is his forte, and he dedicates the majority of his time using this analytical method. Richard uses Elliott Waves in combination with Structures, Patterns, Divergences, and then spices things up with Vibration Levels, Fibonacci measurements, Channeling, Break-outs or Flag formations.

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