Elliott Wave View:
Large correction marked as Wave 4 in progress.
Inside it, a (A)-(B)-(C) zigzag structure is unfolding.
We’re currently in a sub-Wave B of C, expecting a short dip before a bullish move into the 104.80–105.60 supply zone (red box).
Invalidation level sits at 108.247, confirming the correction is valid below that.
2. Price Levels & Zones:
Strong support zone around 101.50–102.00, projected as a potential base for the next leg up (Wave C).
Resistance (target) is clearly the red supply zone near 105.
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Correlation with EUR/USD Chart:
If DXY is expected to rise in its Wave C, then EUR/USD should fall (as seen in your earlier chart).
Your EUR/USD analysis targets the 1.06924 demand zone — this lines up perfectly with DXY's Wave C rise.
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Trading Plan for DXY (or correlation play):
If trading DXY directly (if possible via CFDs):
Buy setup: Wait for minor correction (Wave B) to bottom around 101.80–102.00.
Entry: Near support with confirmation candle.
Target: Red zone 104.80–105.60.
SL: Below 101.50.
For EUR/USD traders:
Watch for EUR/USD Wave B to complete.
Once DXY starts impulsing up (Wave C), EUR/USD will likely drop hard.
That’s your sell opportunity on EUR/USD, aligned with DXY strength.
Large correction marked as Wave 4 in progress.
Inside it, a (A)-(B)-(C) zigzag structure is unfolding.
We’re currently in a sub-Wave B of C, expecting a short dip before a bullish move into the 104.80–105.60 supply zone (red box).
Invalidation level sits at 108.247, confirming the correction is valid below that.
2. Price Levels & Zones:
Strong support zone around 101.50–102.00, projected as a potential base for the next leg up (Wave C).
Resistance (target) is clearly the red supply zone near 105.
---
Correlation with EUR/USD Chart:
If DXY is expected to rise in its Wave C, then EUR/USD should fall (as seen in your earlier chart).
Your EUR/USD analysis targets the 1.06924 demand zone — this lines up perfectly with DXY's Wave C rise.
---
Trading Plan for DXY (or correlation play):
If trading DXY directly (if possible via CFDs):
Buy setup: Wait for minor correction (Wave B) to bottom around 101.80–102.00.
Entry: Near support with confirmation candle.
Target: Red zone 104.80–105.60.
SL: Below 101.50.
For EUR/USD traders:
Watch for EUR/USD Wave B to complete.
Once DXY starts impulsing up (Wave C), EUR/USD will likely drop hard.
That’s your sell opportunity on EUR/USD, aligned with DXY strength.
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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.