DXY - Big Picture
Updated
Big Picture:
USD Index look like it is ready to fall based on the fib and the wave pattern. The only question i'd like to know is 'is it ready?'
Wave breakdown:
1. From the top, there is a clear and clean 5 wave impulse down.
2. From the bottom, I have marked out a fairly clear corrective Flat (5-3-5) wave structure.
3. Of the corrective ZZ, A vs C ratio has extended to 1.618% - a usual termination point.
4. Retracement of the impulse has hit 0.618%
Let's watch and see what happens but signs are that USD is about to drop.
Happy Trading!
USD Index look like it is ready to fall based on the fib and the wave pattern. The only question i'd like to know is 'is it ready?'
Wave breakdown:
1. From the top, there is a clear and clean 5 wave impulse down.
2. From the bottom, I have marked out a fairly clear corrective Flat (5-3-5) wave structure.
3. Of the corrective ZZ, A vs C ratio has extended to 1.618% - a usual termination point.
4. Retracement of the impulse has hit 0.618%
Let's watch and see what happens but signs are that USD is about to drop.
Happy Trading!
Note
Correction Point 2 - the correct is not a flat but a ZZ
Don
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