From our analysis, It seems DXY after breached the key resistance yesterday and testing the previous week highs. we expect ABC Elliot correction wave in which bearish forecast from the current level. Today,It seems consolidation sideways moves may happen. On breaching this resistance will push the price towards 95.40 Expected day trading range is...
Hello there, As everyone knows, the US dollar index is very important and will help us know the direction of the currency. and from our chart we can see the US dollar index and understand that it will fall (weak), so, next week the dollar will be on sale - inshallah. Good luck,
I drew these charts back in october. Divergence on our hands. Trade with money you can afford to lose.
The Index has formed an expanding triangle targeting levels below 87 (83-85 is possible).
usd index will face 87.9 support . it was a strong area for several months it could help it to fly. otherwise it will reach 79.8 area !!! RSI on daily and weekly both in overbought and monthly is near to be ! follow me to reach new analysis
Having bounced from key support at 93.455 last week price is making a run at key resistance at 94.030. A break above this area clears the way towards 94.850.
Despite Shorts from 93.455 failing to break support, price still remains in a near term down trend. Failure to trade below 92.635 suggests a possible risk of re-testing 93.455 but ultimately Shorts are preferred. Price below 92.635 clears the way to 91.550.
Last week price broke below key support at 93.455 ending the week around the 92.635 area of support. This week we look for a correction and further declines with a break of key support at 92.635 clearing the way for the Bears towards 91.550
Only a thin support zone keeps the index from free falling to 91.9 which is a classic wedge target.
DXY and EURUSD Elliot Wave Correlation forecast
Last week the USD Index declined after two weeks of consolidation breaking key support at 94.030. This decline is still viewed as part of a correction and as a result we have a neutral outlook on the USD Index going into next week with a risk of a continued range. A break above the 94.030 level will indicate a resumption of the Bull trend.