DXY - 25Feb2022
DXY surged higher after the Russia-Ukraine situation intensified. On the daily, DXY might have resumed its Elliott Wave 3 upside.
On the H4, price faced bearish pressure from the daily 61.8% Fib resistance at 97.370. H4 price action looks like it is forming Elliott Wave 3-(3). Currently it has pulled back to 23.6% Fib support. Price could potentially bounce from here or pull back to 1st Support at 96.510.
As long as price action maintains above 96.44, we could expect further upside to the triangle breakout target at around 98.420.
This is for personal record purposes only, not financial advise or solicitation of trade.
DXY surged higher after the Russia-Ukraine situation intensified. On the daily, DXY might have resumed its Elliott Wave 3 upside.
On the H4, price faced bearish pressure from the daily 61.8% Fib resistance at 97.370. H4 price action looks like it is forming Elliott Wave 3-(3). Currently it has pulled back to 23.6% Fib support. Price could potentially bounce from here or pull back to 1st Support at 96.510.
As long as price action maintains above 96.44, we could expect further upside to the triangle breakout target at around 98.420.
This is for personal record purposes only, not financial advise or solicitation of trade.