DXY (Dollar Index) | The latest wave of the downtrend🚧
Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
According to the previous analysis, wave 4 was formed, but the shadow of the last candlestick went beyond the end of wave 1, and the validity of this wave count has decreased to some extent, but according to the analysis based on Price Action, the descent is still valid.
We are currently in wave 5, which will be completed as a pullback on the channel.
At the moment, we have identified two price targets for Wave 5, after which we are waiting for the formation of Wave 2 in higher timeframes.
If the high price of resistance (end of wave 1) stabilizes, this wave count will lose its validity.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
According to the previous analysis, wave 4 was formed, but the shadow of the last candlestick went beyond the end of wave 1, and the validity of this wave count has decreased to some extent, but according to the analysis based on Price Action, the descent is still valid.
We are currently in wave 5, which will be completed as a pullback on the channel.
At the moment, we have identified two price targets for Wave 5, after which we are waiting for the formation of Wave 2 in higher timeframes.
If the high price of resistance (end of wave 1) stabilizes, this wave count will lose its validity.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️