DX

After the U.S. Dollar’s pullback in Minute wave b(circle), it is expected a rally in Minute wave c(circle), which carries the Index to around the 99.395 and possibly higher, to complete the Minor wave B. (Confirm to the assessment of Intermediate fourth-wave developing as a sideways action.)

A decline to below the 93.17 low, would open the overall corrective pattern to differing interpretations.

DX - Daily

4 thoughts on “DX

  1. Raj Ponath

    Hi,
    I do understand that your perspective is purely technical but do you look at correlation in currencies as well. The fact that i am enquiring is that, the previous post when you said gold is going to climb on a daily bar and now DX is also likely to go up, while this is completely opposite in correlation. One of these elements will have to go down. Correct me if i am wrong.
    Great work on the charts. Thanks

    Reply
  2. elliottchart Post author

    Thanks to mention a good point.

    As Elliott said, “The Wave Principle does not require confirmation by two averages. Each average,
    group, stock or any human activity is interpreted by its own waves.”

    The Elliott Wave Theorist, by Robert Prechter — August 18, 2005

    Reply
  3. Raj Ponath

    Dear Sir,
    time is the only factor which can make this scenarios possible. Most probably gold might take a longer time to go up. It might range a good deal. Now usd/jpy is also likely to go up for the 5th wave which is directly correlated with DX and yen is also weak fundamentally. Thanks for the reply and let’s see what happens. Good luck and fabulous work!!
    Regards

    Reply

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