US Dollar Index, DXY

This daily chart for DXY shows that global liquidation pressures were impacting dollar strength. The improvement is indicative of massive interventions by the FED aimed at overpowering these pressures. The indicator advises that the pressures will continue to have their wicked way. The bigger picture sees the top of a Primary degree bear market correction.

US Dollar Index, DXY - The End is Nigh

 Update 27/09/19

 From 24/09/19

This daily chart for DXY plots the course of the Primary [B] wave and once again prospectively discovers the long lost appearance of a conclusion. At the very least, the end is now closer. 

However, a weaker dollar requires a loss of confidence causing a shift away with not many places to actually go. The cause of the ongoing strong dollar appears to be trying even harder to drive it further on as their own currency is devalued in order to stimulate their economy at the expense of their competitors. So what will bring the [C] wave? Perhaps some economic surprise that generates inflation and thereby the clear expectation of ongoing rate increases so as to contain inflation and maintain price stability. The one thing that cannot be handled - a genuine economic recovery.

DXY, US Dollar Index

The US Dollar index (DXY) is in a Cycle degree bear trend. The Primary [B] wave has a timeline of 1.382 of the [A] wave and the retrace has gone over the 61.8% which makes it overdone. 

Lowering of the FED rate is now anticipated.

DXY, US Dollar Index

This chart of the US Dollar Index sees a Cycle degree correction underway and entering Primary [C]

LINK:  Gold , DXY shared post 19/07/19

XAU/USD and DXY

XAU/USD is presently correlating closely with DXY, which is normal for these instruments. The proof of this correlation is obvious when their charts are overlaid. Here we look at these two instruments using standard Elliott wave theory and the RSI.

The purpose is to ascertain the future direction of each. 

The 30 min XAU/USD chart here is showing the break up from the symmetrical triangle, which is seen as Minor wave 2. The break out has developed the Minute waves [i] and [ii] and indicates that Minute wave [iii] of Minor wave 3 is commencing. 

To assist the expected bullish momentum for XAU/USD it would be expected to see a complementary move weaker for DXY. The 5 hourly chart of DXY here sees a Primary degree correction in progress and now within Intermediate wave (C) and portending considerably more of the same for both of these instruments. 

LINK:  DXY with Cycle degree correction underway

US Dollar Index, DXY

This daily chart for DXY continues to indicate the probability of the commencement of the [C] wave of the Cycle degree correction. 

US Dollar Index, DXY

This daily chart of DXY is counted two ways. Both methods point to the high being in.  Clearly the (B) wave count has more affinity with the universal nature of things.

Below: This monthly OEW analysis puts the above in the follow-on of two double zigzags spanning over 25 years which have comprised most of the the Supercycle bear trend. The completion of the final wave is expected going forward.

DXY

This assessment of the daily chart for DXY settles on an Intermediate degree B-wave within a Primary degree correction. But it could be one degree higher. 

US Dollar Index, DXY

Regardless of whether this is wave [B] or wave [1] there would appear to be a breakout coming soon.

US Dollar Index, DXY

DXY weekly:  Cycle wave II was 5-3-5 so that box is ticked. Primary wave [1] is supported by magnificent weekly divergences into both its beginning and its end, not to mention the close call with the 61.8% retrace of II. Now 3 waves down and 3 up precede this dip back into weakness. Rates of decline have been quite consistent so far. The projection for the end of Primary wave [2] employs similar declinations and it now targets the end of Intermediate wave (4) of Primary wave [1]...   pure guesswork...    

DXY, US$ Index

The US$ index, DXY, has completed Primary impulsive wave [1] and was trying to disguise corrective wave [2]. Weekly and daily charts...

DXY - US Dollar Index

This weekly chart identifies the obvious impulsive nature of Primary wave [1] along with the unconfirmed Minor B-wave of the expected Intermediate (A) leg of Primary wave [2].

LINK:  Gold $US charts