DOLLAR INDEX : TRIANGULATING OUR THOUGHTS!!

23 apr 2015

DXY has been consolidating and leaving little clues as to which direction it is likely to follow. The Elliot Wave counts on the chart show 3 potential counts all of which are viable counts. Triangulating price action by any asset class is always tricky and from an Elliot Wave perspective it exposes the subjective nature of this discipline. Below 96.17 sees the Flat Correction count winning out but above 100 sees the triangle completed and a final push to new highs will likely be the outcome. Patience is key whilst the triangle matures.