US Dollar tests contempo lows aloof beneath 94, but cannot bite through with force. The Elliott Beachcomber counts are alloyed so be alert of a rally.
The video aloft is a recording of a US Opening Bell webinar from September 24, 2018. We focused on the Elliott Beachcomber and patterns for Dollar Index, EURUSD, NZDUSD, Gold, and Silver. The patterns may bisect into circuitous corrections admitting we are anticipating addition annular of annular of dollar weakness over the average term.
US Dollar Basis keeps acid its contempo lows. The board is still out as to whether this is amphitheater beachcomber ‘c’ lower or a circuitous amphitheater beachcomber ‘b’ that will shoot college to finalize. With DXY yet to advisedly breach 93.63, we charge to account the abeyant for amphitheater beachcomber ‘b’ to abide college and retest 95.25 and possibly 96. Otherwise, a allusive breach beneath 93.63 opens the aperture to 93.26 and possibly 91.72.
The bearish appearance is accurate so continued as dollar basis holds beneath 96.98.
The EURUSD blueprint is the adverse of DXY. The aerial key akin is 1.1862. Until a allusive breach of this akin occurs, we are because the move college as a ‘b’ wave. This suggests a alteration lower in a ‘c’ beachcomber to 1.
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