Forex

DXY Found Temporary Support As ExpectedOct 3, 2024

We talked about DXY on September 20. We also shared an article, where we mentioned and highlighted that it’s approaching temporary support within an ending diagonal (wedge) pattern within wave “v”.

DXY Found Temporary Support As Expected DXY 4H Chart From September 20
DXY 4H Chart From September 20

At the end of September we also shared an intraday hourly chart with our members, where we pointed that it’s in final stages of subwave v of the wedge pattern within wave “v” and such patterns usually cause a strong reversal.

DXY Found Temporary Support As Expected DXY 1H Chart From September 30
DXY 1H Chart From September 30

As you can see today on October 03, DXY is coming sharply up after a completed wedge pattern that can be wave “a” and it could lead to a three-wave a-b-c recovery towards 102 – 103 resistance area for wave “c”, just watch out on wave “b” pullback.

DXY Found Temporary Support As Expected DXY 1H Chart From October 03
DXY 1H Chart From October 03

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