Happy new year traders, here is my market analysis on DXY on a monthly as we start a new year/month we have the market in an overall bullish trend giving us impulsive and corrective moves.
labeled by the Elliot wave we can see having an impulsive move from (D) till (E) touching our resisting trendline, giving an opportunity to the sellers as we can see a sharp move to the downside revisiting 103.1836 level. if the market go break/close below this level will have more sellers jumping in to push the market to the supporting trendline to complete the wave (E).
In doing so, the greenback’s gauge versus the six major currencies replicates the sluggish markets amid the year-end holiday mood, as well as due to the mixed catalysts.
labeled by the Elliot wave we can see having an impulsive move from (D) till (E) touching our resisting trendline, giving an opportunity to the sellers as we can see a sharp move to the downside revisiting 103.1836 level. if the market go break/close below this level will have more sellers jumping in to push the market to the supporting trendline to complete the wave (E).
In doing so, the greenback’s gauge versus the six major currencies replicates the sluggish markets amid the year-end holiday mood, as well as due to the mixed catalysts.