Dollar Index (DXY) – Bearish Minor 5 – Trend Continuation

TVC:DXY   US-Dollar Währungsindex
Dollar Index ( DXY ) – Bearish Minor 5 – Trend Continuation

Dollar Index ( DXY ) bounced off the Reversal Area pointed out in the previous “Dollar-Index-DXY – Market Crash Road Map – Full Elliott Wave Cycle” and commenced the Corrective Pattern for Minor 4 (red).

It seems like the Dollar Index ( DXY ) is approaching what is called the “Golden Section” in Elliott Wave Analysis which acts as a Point of Interest or Vibration Level, drawing the Price Action towards it as a magnet. Golden Section usually acts as Trend Continuation Levels, in the Dollar’s case a Bearish Trend Continuation for Minor 5 (red).

If the above would be correct, then the Dollar Index ( DXY ) could resume the Dominant Trend and finalize Minor 5 (red) and with it the entire Intermediate (C) leg (turquoise), thus completing the Cycle in Primary Wave A (blue).

Dollar Index ( DXY ) – Corrective Minor 4 – Wave Analysis:

• Minute A (blue) commenced on the up-side showing a 3 Swing Sequence in its Minuette ABC Sub-Waves (orange).
Minuette (a) (orange) shows a typical 5 Swings Motive Structure.
Minuette (b) (orange) shows a deep pull-back in a Zig-Zag Pattern.
Minuette (c) (orange) shows an Extension, which took a form of an Wedge , making the entire Minute A (blue) develop as a Leading Diagonal for the overall Corrective Structure.
• Minute B (blue) retraced as a Triple Three Pattern, showing a Complex Structure in its Minuette WXYXZ Sub-Waves (purple).
• Minute C (blue) is possibly taking form of an Expanding Ending Diagonal , with 2 legs awaiting to finalize, which are Minuettes (iv) & (v) (black).
A Bearish Divergence would be awaited at the end of Minuette (v) (black).
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hello sir, i really like your chart, it's beautiful and vividly. Thank your chart.
One question: in my country, few traders join dukascopy contest to test themself and win the prize. i think you know dukascopy contest because u're from Switzerland. Do u have joined this contest?
Thank sir.
Truly professional analysis on the DXY and respective correlations - Keep up the great work Lionheart-eaw and thanks for posting!
Lionheart-EWA jonathanawilson
@jonathanawilson, thank you for the positive feedback, your support is truly appreciated.
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