DXY. One more leg down

Looks like DXY still has one more leg down. This can explain a rally in commodities.

If the wave count is correct, we may reach 88 figures quite soon which would give us approximately 1.24 figure in EURUSD pair. After a nice rally on Friday we are spending some days in a sideways movement. Therefore, now it is a good period for a long entry on EURUSD pair or finding any other instrument, related to the USD.

Kommentar:

In the end, looks like it will be a flat correction for DXY. Is currently heads towars the double top (chart below). If breakout is confirmed with a daily closing today and a retrace tomorrow, it is a very good opportunity for USD longs before the FEDs meeting on the 27th of July.

For EURUSD pair the target price would be around 1.0850
For USDJPY: 113.900