US Dollar Index
Monthly
CLOUDS - UP
Elliot Wave - We can Identify 5 Waves up, with the 5th wave fall at 78.6 retrace
Caution : 5th Wave looks incomplete as it needs another up to form the 5th wave within the 5th wave…
Weekly
CLOUDS - Down
Its finding support as weekly closed at 105 (previous resistant)
Momentum is still UP
Daily
CLOUDS - UP
RSI Forming Bearish Divergence
SUPPLY Zone at around 105.75 (so might have limited upside if DXY was to continue to trend), however I’ve set my alert at 106.17 as it looks like a setup for a liquidity grab for a potential resume Down trend.
Outlook for week:
Follow the strong DXY trend, however if DXY reaches 106 is chance might resume down trend.
Monthly
CLOUDS - UP
Elliot Wave - We can Identify 5 Waves up, with the 5th wave fall at 78.6 retrace
Caution : 5th Wave looks incomplete as it needs another up to form the 5th wave within the 5th wave…
Weekly
CLOUDS - Down
Its finding support as weekly closed at 105 (previous resistant)
Momentum is still UP
Daily
CLOUDS - UP
RSI Forming Bearish Divergence
SUPPLY Zone at around 105.75 (so might have limited upside if DXY was to continue to trend), however I’ve set my alert at 106.17 as it looks like a setup for a liquidity grab for a potential resume Down trend.
Outlook for week:
Follow the strong DXY trend, however if DXY reaches 106 is chance might resume down trend.