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!
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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.
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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
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。