Κυριακή, 18 Σεπτεμβρίου 2016

DXY: Weekend Analysis from ElliottWaveTrader

Author: Avi
DXY: Incomplete b-Wave
Forex, 13to30MinChart, DailyChart

DXY21
As noted last weekend, the lack of a completed 5 waves down off the last high left the door open for the market to see a more complex b-wave back to the 96.65-96.80 region.  That seems to be what the market signaled this past week.  This pattern seems to best count as an ending diagonal (c) wave within that b-wave, as shown on the attached 21 minute chart.  And, as long as we remain below the 97.25 region, then I am still expecting a c-wave down to complete the (b) wave of the purple b-wave.
DXY - Daily
And, to reiterate, I am still going to expect overall sideways to continue in this chart until we are ready to begin our 5th wave higher sometime next year.  It would take a break down below the 88/90 region to make me reconsider the expectation of a 5th wave higher.

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