Elliott wave analysis on US dollar
Dxy was bottomed at 91.92 at May.
Then it rallied from 91.92 to 95.97 last month and came to the upper border of the bearish channel and the 0.5 fib position.
It was rejected back to 93.87 last Friday. From elliott wave analysis this rally does not finish yet. It might go up again if it doesnot break out the support zone.
Trading suggestions:
Go long at 92.9~93.4
SL at 91.9
TP1 at 95.09
TP2 at 96.2
TP3 at 97.2
Good luck for everyone!
Notes: DXY still has some space to go down. Go long when it rejects from the support zone will be more safe. And pay attention to the bearish channel! If it breaks up, I will add more long position.
Then it rallied from 91.92 to 95.97 last month and came to the upper border of the bearish channel and the 0.5 fib position.
It was rejected back to 93.87 last Friday. From elliott wave analysis this rally does not finish yet. It might go up again if it doesnot break out the support zone.
Trading suggestions:
Go long at 92.9~93.4
SL at 91.9
TP1 at 95.09
TP2 at 96.2
TP3 at 97.2
Good luck for everyone!
Notes: DXY still has some space to go down. Go long when it rejects from the support zone will be more safe. And pay attention to the bearish channel! If it breaks up, I will add more long position.
İşlem aktif
Not
Long position looks good so far. It towards to the TP1 target.Not
Nice! TP1 touched! 30% position is closed. Pay attention to the channel resistance.Not
Cool! TP2 hitted. Half of the remaining position was closed.Not
Nice rally!Not
Nice. TP3 is touched!İşlem kapandı: hedefe ulaştı
Not
DXY rejects back from the resistance line. We can see how powerful elliott wave is!
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