Is the USD getting stronger?

By Richard Tataru Last updated Oct 31, 2021

The USD has been trading within a Complex Structure, more exactly, within a Double Three Pattern.

This has been going on and unfolding ever since the DXY (dollar index) hit the support back on the 25^th of Jan 2018 and then started bouncing.

Dollar Index (DXY) – Daily Chart

Dollar Index (DXY) – 2H Chart – Corrective Structure Preview

Since the 25^th of Jan 2018 until the 27^th of March 2018, two of the total of three structures completed their individual cycles, which leaves of course the time-frame from the 27^th of March until present days.

The current location of the Double Three Pattern has been labeled as Minute Y (pink), which seems to be unfolding within a Rising Channel.

Dollar Index (DXY) – 2H Chart (close-up)

After Minute X (pink) completed its Flat Pattern, Minute Y (pink) commenced its sequence, with its first Bullish sub-wave starting to unfold, as per the previously posted “The Return Of The Dollar Bulls” article.

Following the completion of Minuette (w) (purple), the Bearish Correction of Minuette (x) (purple) started unfolding, as per the previously posted “Dollar Index Technicals Elliott Wave” video.

The current wave count leaves room to believe that the actual location and degree of the Dollar Index (DXY) would be Minuette (y) (purple) of Minute Y (pink).

Within Minuette (y) (purple), the first Bullish leg occurred, which has been labeled as Sub-Minuette a (blue). This leg seems to be corrected by Sub-Minuette b (blue) and the structures looks like a possible Bull Flag, which could start unfolding soon and possibly pave the way for the Impulsive Sub-Minuette c (blue).

If the current wave count would turn out to be correct, how would that affect the Majors, Oil or Metals?