UmitAbdulkasim

DXY Elliot Wave Analysis

Long
TVC:DXY   U.S. Dollar Currency Index
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.

Expecting a minimum 3% bounce in DXY before bearish continuation. EURUSD to 1.1700.
Comment: Bullish Divergence on RSI as well followed by a oversold market. Short side of the trade is overcrowded.

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