🏃♂️The DXY index has been moving in a Descending channel for a month.
🌊According to Elliott's theory, it seems that the DXY index has completed its 5 downward waves near the lower line of the descending channel after breaking the 🟢Support zone($103.78_$102.93)🟢.
💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys.
💡I expect the DXY index to move towards the upper line of the descending channel and in the first step, we have to wait for the middle line of the descending channel to be broken (the middle line has already played the role of support and resistance).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.
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 ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
🌊According to Elliott's theory, it seems that the DXY index has completed its 5 downward waves near the lower line of the descending channel after breaking the 🟢Support zone($103.78_$102.93)🟢.
💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys.
💡I expect the DXY index to move towards the upper line of the descending channel and in the first step, we have to wait for the middle line of the descending channel to be broken (the middle line has already played the role of support and resistance).
U.S.Dollar Currency Index ( DXYUSD ) Analyze, 4-hour time frame⏰.
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 ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
Comment:
Running well, we have to wait to react to the upper line of the Descending channel.
Trade closed: target reached
Comment:
If the DXY can break the Upper line of the descending channel, we can expect the DXY to rise to the resistance zone.
