Long term DXY chart for perspective on what is possibly in the works.
I believe this is an accurately drawn channel based on fib conformation.
Are we about to embark on a trip to new Dollar highs?
As you can see we've recently bounced off the .62 channel retracement which nicely coincides with the channel median line.
At the very least I think we are now poised to move up in a corrective pattern. From an Elliot Wave perspective I think a new high is in order.
We'll have to monitor the shape of the near term price activity for further clues.
Shorter term chart showing my wave count off the Sept '22 highs.
I believe this is an accurately drawn channel based on fib conformation.
Are we about to embark on a trip to new Dollar highs?
As you can see we've recently bounced off the .62 channel retracement which nicely coincides with the channel median line.
At the very least I think we are now poised to move up in a corrective pattern. From an Elliot Wave perspective I think a new high is in order.
We'll have to monitor the shape of the near term price activity for further clues.
Shorter term chart showing my wave count off the Sept '22 highs.
