Forex

DXY Is Ready To Resume Lower: Elliott Wave Intraday AnalysisMar 13, 2024

DXY Is Ready To Resume Lower from technical point of view and from Elliott wave perspective.

Hello traders!

USDollar Index – DXY is coming lower again and we have been talking a lot about that in the past articles.

USDollar is actually nicely falling since then due to lower US Yields. There can be actually room for much more weakness, but on the intraday basis, we see room at least for one more leg down towards 102.00 level or lower.

DXY Is Ready To Resume Lower: Elliott Wave Intraday Analysis DXY Intraday Chart
DXY Intraday Chart

We have seen some intraday recovery recently, but looks like a clear corrective movement in wave (4) from Elliott wave perspective, which can now send the DXY lower for wave (5).

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