Update on DXY (August 6, 2021)
If you remember my analysis on DXY (Daily Chart), I predicted big wave C to retest the previous wave 4 at 93.50 before continuing its way down for a new bearish cycle.
Zooming at the 4H chart, Wave C, which was constituted of 5 waves up with wave 5 as a rising wedge, broke out and started its ABC correction which could be considered new wave 1 in the new cycle.
Anyway, looking at this chart now, DXY went 5 waves down and started its small ABC correction which I expect to retest 92.52 before continuing its way down.
As wave C broke the 100% Fibonacci Extension, I ended up choosing the 161.8% Fibonacci Extension (92.52) as a critical retest area for the bearish scenario.
Zooming at the 4H chart, Wave C, which was constituted of 5 waves up with wave 5 as a rising wedge, broke out and started its ABC correction which could be considered new wave 1 in the new cycle.
Anyway, looking at this chart now, DXY went 5 waves down and started its small ABC correction which I expect to retest 92.52 before continuing its way down.
As wave C broke the 100% Fibonacci Extension, I ended up choosing the 161.8% Fibonacci Extension (92.52) as a critical retest area for the bearish scenario.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.