DXY Correction A Triple Combo?

0 884

The current DXY structure shows a triple zigzag in cycle wave IV. The corrective leg consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

Following the completion of correction wave Ⓨ, prices moved up in wave Ⓧ. However, wave Ⓧ is not yet complete. It consists of intermediate sub-waves (A)-(B)-(C).

In the short term, we expect prices to rise in wave (C) near 98.71. At that level, wave Ⓧ will be extended to 161.8% Fibonacci compared to wave Ⓨ.

A decline in primary wave Ⓩ can be expected afterward, near the low of 95.70.

dxy

An alternative scenario suggests that wave IV is a double zigzag Ⓦ-Ⓧ-Ⓨ.

In this case, the last bullish impulse wave V is currently under development.

We expect wave V to end near the 102.99 area formed by wave III, and perhaps even higher.

Got your risk management sorted? Open your account now!

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.