DXY is deeply in the daily supply zone, but can go even deeper into the weekly supply zone.
Then two cases can be expected.
First, you can expect the monthly correction pattern of the W-X-Y structure. After falling once more with the monthly correction process, a monthly upward wave may start.
However, since the new low is where the weekly correction trend line of the uptrend is drawn, the weekly uptrend could continue.
So, you'll have to wait until around the daily or weekly supply zone to watch the action.
Then two cases can be expected.
First, you can expect the monthly correction pattern of the W-X-Y structure. After falling once more with the monthly correction process, a monthly upward wave may start.
However, since the new low is where the weekly correction trend line of the uptrend is drawn, the weekly uptrend could continue.
So, you'll have to wait until around the daily or weekly supply zone to watch the action.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.