DXY FED day - Elliot Wave analysis

31 Tem 2019

Major FOMC day. FED rates expected to be cut by .25. The major event is the press conference from Jerome Powell and the rhetoric of future monetary policy. Elliott wave analysis suggests that we are still in the big B wave correction at 61.8%. Lowering rates and uncertainty in global economy should make Powell more dovish. If that's the case then we should be starting wave C here. So far the chart respected all fib levels of previous waves. Good Luck and trade smart! Comment on your views regarding today's event.