Elliott Wave Live: Can Dollar Fall Out Of An Upward ChannelFeb 19, 2024

Hello everyone, I trust your weekend was delightful. We had a splendid celebration for my son Vid’s 11th birthday. It amazes me how swiftly time progresses with children around. Embracing every moment with them is crucial, as these opportunities diminish as they mature.

Shifting focus to the financial markets, we might not witness significant movements today due to holidays in both the US and Canada. On Friday, we observed a dip in the bond market, while the dollar weakened, likely due to position adjustments in anticipation of the long weekend. Interestingly, the Euro managed a notable rally despite a decline in bunds, indicating a potential divergence. However, the Euro and bunds could realign into positive correlation if the bunds stabilize, potentially propelling the Euro even higher.

This week, the spotlight turns to the details of the upcoming FOMC meeting that will be released on Wednesday. Any new insights into the Fed’s policy could be pivotal, although substantial shifts are uncommon. Nevertheless, a change in tone could influence yields and the USD significantly. From an Elliott Wave perspective, the DXY appears to be nearing a resistance, possibly already reached, but still need to see a fall below 103.38 to confirm a reversal.

For more analysis make sure to join us in webinar, today at 15CET


DXY Elliott Wave

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.