$DXY is looking it wants to bottom.
These are the elements in favors of bulls:
However, there are still some things in favors of bears:
To get a clear direction, we will probably have to wait for the results of the elections.
IF $DXY closes above @94.5 a bullish wave 3 should be favored with a first target near @96
Otherwise, a further decline remains likely, with a bearish wave 3 target near @IgorKuzmin
These are the elements in favors of bulls:
- A recent bullish divergence on the RSI indicator.
- The RSI has found support on 40 level
- The RSI divergence perfectly matches the end of a bearish Wave5
- The Bullish Wave 2 has been triggered and marked a low signaled by S34 and A55 exhaustion points
However, there are still some things in favors of bears:
- The bearish countdown which started on SU9 (Aug 6) is not over (bar 7/13)
- To complete this countdown, $DXY needs to close back near the bearish Wave 3 target (@92)
- A potential bearish wave 2 is also in progress
- TDST Resistance has not been breached yet
To get a clear direction, we will probably have to wait for the results of the elections.
IF $DXY closes above @94.5 a bullish wave 3 should be favored with a first target near @96
Otherwise, a further decline remains likely, with a bearish wave 3 target near @IgorKuzmin