DXY still BULLISH to complete WAVE 5 of WAVE 3 (ELLIOT WAVE)
For the DXY Chart, we can note that we are currently in an impulsive 5 wave movement.
Within the major timeframe we are currently completing WAVE 1
Within the medium timeframe we are currently in WAVE 5
Within the minor timeframe we are currently in wave 3
All In all we can still expect USD to be bullish for 1-3 weeks move before doing a major retracement for WAVE 2 in the MAJOR timeframe. Till then I expect USD to be relatively strong.
Pairs that I have noticed to follow the movements of DXY
EURUSD (very similar)
GBPUSD (very similar)
AUDUSD
NZDUSD
I will be shorting/selling all these pairs this coming week.
Analysis Method: ELLIOT WAVE THEORY
Within the major timeframe we are currently completing WAVE 1
Within the medium timeframe we are currently in WAVE 5
Within the minor timeframe we are currently in wave 3
All In all we can still expect USD to be bullish for 1-3 weeks move before doing a major retracement for WAVE 2 in the MAJOR timeframe. Till then I expect USD to be relatively strong.
Pairs that I have noticed to follow the movements of DXY
EURUSD (very similar)
GBPUSD (very similar)
AUDUSD
NZDUSD
I will be shorting/selling all these pairs this coming week.
Analysis Method: ELLIOT WAVE THEORY
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