Hello traders, today we will talk about US dollar Index- DXY compared to US stocks, specifically SP500.
What we see on DXY is an intraday five-wave decline from the highs after a completed higher degree wave 5th. In Elliott wave theory it means that US dollar may face bigger A-B-C corrective decline, especially if we consider 5th wave and strong support on SP500.
Now that SP500 keeps pushing lower with room for more weakness within wave 5, DXY could face a corrective recovery into wave B. Later then, when SP500 completes its 5th wave and finds the support, this is when can expect further weakness within wave C for the US dollar.
Trade well!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
What we see on DXY is an intraday five-wave decline from the highs after a completed higher degree wave 5th. In Elliott wave theory it means that US dollar may face bigger A-B-C corrective decline, especially if we consider 5th wave and strong support on SP500.
Now that SP500 keeps pushing lower with room for more weakness within wave 5, DXY could face a corrective recovery into wave B. Later then, when SP500 completes its 5th wave and finds the support, this is when can expect further weakness within wave C for the US dollar.
Trade well!
If you like what we do, then please like and share our idea.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.