DXY (USD) likely to show some strength short-term

28 May 2021

So here we have our Elliott Wave view on DXY. We are currently in the weekly 5, and we have hit a massive roadblock, which is this strong monthly support.

So, how is this likely to play out?

Here is the zoomed in version, where we are in a daily 3, which needs a correction, EXACTLY where we see the roadblock.



So we see temporary DXY (USD) strength coming to give the 4.

Weekly Stochastic oversold, and Daily Stochastic is also turning up to add to the evidence...