#DXY Elliott Wave Analysis
The $100 psychological level got tested. The reaction tells the story.
The $100 psychological level got tested. The reaction tells the story.
We are tracking a Wave (4) correction that should find support in the 99.69-99.81 zone. This pullback is not a reversal. It's the Dollar taking a breather before the final push higher in Wave (5).
Why do we love these corrections? They shake out buyers who chased the breakout above $100. They create better entry zones for patient traders. They set up the final thrust that catches most people off guard.
Wait for the dip into our target zone. Let the correction complete properly. Then position for the continuation higher.
The Dollar's strength story is far from over.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Elliott Wave analysis involves subjective interpretation. Always do your own research and manage your risk accordingly.
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