Home US Dollar Index Technical Analysis: Elliot wave pattern sends DXY down with 96.00 as target
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US Dollar Index Technical Analysis: Elliot wave pattern sends DXY down with 96.00 as target

DXY daily chart

  • The US Dollar Index (DXY) is pulling back down after the market formed a 5-wave Elliot pattern.


DXY 4-hour chart

  • DXY broke below the 50 and 100-period simple moving averages.  
  • Bears should keep the market below 96.75 and 97.00 figure to keep the bearish momentum going.

DXY 30-minute chart

  • A break below 96.40 should open the doors to the 96.00 figure

 

Additional key levels at a glance:

Dollar Index Spot

Overview:
       Last Price:  96.44
       Daily change:  -65  pips
       Daily change:  -0.669%
       Daily Open:  97.09
Trends:
       Daily SMA20:  96.6
       Daily SMA50:  95.68
       Daily SMA100:  95.36
       Daily SMA200:  93.5
Levels:
       Daily High:  97.39
       Daily Low:  96.76
       Weekly High:  97.01
       Weekly Low:  95.68
       Monthly High:  97.2
       Monthly Low:  94.79
       Daily Fibonacci 38.2%:  97.15
       Daily Fibonacci 61.8%:  97
       Daily Pivot Point S1:  96.77
       Daily Pivot Point S2:  96.45
       Daily Pivot Point S3:  96.14
       Daily Pivot Point R1:  97.4
       Daily Pivot Point R2:  97.71
       Daily Pivot Point R3:  98.03

 

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