DX

Bullish Outlook :

As shown on this weekly chart, the U.S. Dollar corrected through Fibonacci 0.382 retracement level. The “double zigzag” correction could be labeled as Intermediate wave (4), which is prior to advance in the fifth wave of the same degree.

Based upon the bullish view, Intermediate wave (5) that could have begun at 92.62, will eventually carry the Index to new highs above 100.39 (March 13).

The ultimate target for this final dollar advance is around the 104.02 level, where the waves (5) and (1) are equal – a common relationship.

DX - Weekly

1 thought on “DX

  1. Raj

    Hello sir,
    Rearding the count for DX, is it a possibility that the last major wave was a 5th wave and this correction, which according to your count is a 4th wave could be a flat correction of the entire bullish move of DX? Just a question. Have you considered an alternative count? please clarify according to time taken and fibo values. Much appreciated…. Regards
    Raj

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s