dxy

DXY has been slowly completing the downward ABC formation and now showing early signs of reversal from the low made on 14th December at 103.448. Of the ABC formation, last leg C was was an impulse (shown as i-ii-iii-iv-v) and v was an ending diagonal which should have completed the down move. If I am…

There has been a slight change in counts from the previous update, though overall view remains the same. I thought that 5 waves down are done in wave C and now some kind of pullback on upside should occur. By looking at current price action, the low (what we though was wave C complete as…

So the fresh DXY view seem to be working so far and DXY has completed a 5 wave decline from wave B which means C is complete. Further, we have had a weekly positive close since then which are early signs of next leg up starting. Now, this next leg up could be the fresh…

Dollar index might be in late stage of correction. As per my current wave counts, we are in wave c of last corrective leg Z. W-X-Y-X-Z is a complete complex corrective structure in itself, but there could be corrections within corrections. Considering that, what we are taking as W-X-Y could be larger (W) and X-Z…

Dollar index has been in corrective mode after making the high of 114.77 last month. The fall from that high (marked as 1 in yellow – the second one) was clean abc which made me think that correction is over and we might start next impulse up. We did get some upside but in hindsight…

There has been some new development in DXY chart hence sharing the revised view. What I initially thought is wave 2, which materialised as zigzag (abc) after the high of wave 1, seem to be turning into a complex correction (WXY so far). The initial ABC was possibly W followed by the leg up (X)…

Update [20th October]: Finally, we got a positive close yesterday. Even though DXY didn’t close position day before yesterday, our level for minor wave iii remains in same zone (~115.700) since wave ii didn’t move much from when we estimated the size of wave iii. Wave iii would likely put equities and other asset classes…

Dollar index is moving as per the previous updates with a minor change. What we earlier thought to be wave 3 and 4 turned out to be extensions, i.e. another wave 1 and 2. Essentially, we are going to do something like 1-2-1-2-3-4-3-4-5 (9 legs in total). There can be further extensions too but let’s…

It might be too early to say but looks like dollar index may have completed minor wave ii of larger wave 3 and we might be starting minor wave iii of 3 from here. We’ll look for the following confirmations. Positive close for today. Break of wave i high, i.e. 110.260. Final confirmation would be…