US DOLLAR CURRENCY INDEX

DXY index near term Elliot wave analysis

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The recent price action suggests a on going 5-3-5-3-5 leading diagonal to complete the A wave of large degree correction pattern. A pending long position is favored at 93.95 level or the completion of a minor "wave e". A desired move of RSI would be breaching 30 level and then reverse. A upward break of the RSI upper channel along side with a price break would be ideal conformation of a long play targeting 95.80 or 97.40

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