DXY Technical Analysis: Confirm Bullish view

DXY Technical Analysis: Confirm Bullish view

15 May 2016, 20:38
hoagtrading
0
51

Talking Points:

  • DXY Technical Strategy: Bullish
  • Elliottwave Count: We are confirming flat correction here, and looking for impulse count

Analysis 

We keeping our primary analysis posted earlier month and considering correction over in dollar index. With that we are looking for gathering more evidence for bullish impulse count. First confirmation received after weekly close above flat correction channel. Followed by bearish triangle trend-line, which confirm that dollar indices is in bullish trend and will continue near future. Same was confirmed in EURUSD and other dollar basket currency pairs.

 

What to do:

We started buying dollar index pairs and add more in retracements. We already in short position for EURUSD and GBPUSD.

 

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