Category Archives: U.S. Dollar Index – Daily

DX

Bullish outlook :

The strong sharp selloff in Dollar Index, exceeding the origin of that diagonal wave, could have culminated in its extreme low at 97.59. It’s too soon to state so conclusively, that correcting in Minor-degree wave 4 is complete.

Note: It is not required that Minor-degree first wave’s apex at 96.62 be hold, because of likelihood occurring an ending diagonal in fifth wave position.

DX - Daily

DX

Correcting down :

The strong sharp selloff in Dollar Index, exceeding the origin of that diagonal wave, could have culminated in its extreme low at 97.59. It’s too soon to state so conclusively, that correcting in Minor-degree wave 4 is complete.

It is not required that Minor-degree first wave’s apex at 96.62 be holded, because of likelihood occurring an ending diagonal in fifth wave position.

DX - Daily

DX

Correcting down :

As shown on the U.S. Dollar’s daily chart, the extreme of Minor-degree wave 3 occurred well in its target at 100.28.

With respect to the subdivision of Intermediate wave (5), expect now the extended advance of its third wave to be followed by correcting down in its fourth wave. (technically retracing back to the origin of that diagonal wave at 98.43)

DX - Daily

DX

Bullish Outlook :

With respect to the waves structure, the U.S. Dollar’s strength in extending advance that followed by the overlapping waves, would suggest that Minor-degree wave 3 is well approaching its extreme high.

The ultimate target for the extending third-wave is 100.28, where it equals 1.618 times the length of the same degree wave 1.

DX - Daily

DX

Bullish Outlook :

Today’s strong rally, exceeding the 98.33 August high, and also the wave structure of advance since the August low at 92.62 indicate that Intermediate-degree wave (5) is advancing in the late stages of its third wave.

The expected target for the wave 3 is around 100.28, where equals 1.618 times the length of the same degree wave 1.

DX - Daily

DX

Bearish Outlook :

The strong rally day in U.S. Dollar should have ended the running triangle as the Minor wave X at the extreme point of 96.42, prior to the start of the next Minor-degree decline in wave Y.

Any break of wave c (circle) would negate the bearish triangle-pattern shown on the chart, since wave e (circle) cannot move beyond the wave c (circle) extreme.

DX - Daily

DX

Bearish Outlook :

On the U.S. Dollar’s corrective trend since the March 13 high, another viable possibility which may be respected is that the Minor-degree wave X (as a running triangle) remains in its very late stages, prior to the final decline in Minor-degree wave Y.

Based upon this bearish case, the upside target for extreme of the wave X is around 96.33, and ultimate target for the overall correction is estimated at 91.85, by the end of year.

DX - Daily

DX

Bearish Outlook :

On the U.S. Dollar’s corrective trend since the March 13 high, another viable possibility which may be respected is that the Minor-degree wave X (as a running triangle) remains in its very late stages, prior to the final decline in Minor-degree wave Y.

Based upon this bearish case, the upside target for extreme of the wave X is around 96.33, and ultimate target for the overall correction is estimated at 91.85, by the end of year.

DX - Daily

DX

Bullish Outlook :

The U.S. Dollar Index started the week with a pullback, possibly back to 94.69, that is prior to impulsive advance of Intermediate wave (5) which will eventually carry to new highs above 100.39 (March 13).

Note : The Minor waves will be labeled, after to fulfill the pullback over the coming days.

DX - Daily