USDollar is turning down against some major currencies, especially vs commodity currencies such as Aussie (AUDUSD), but looking at the 10Y US Notes chart, we still see room for another drop within wave »v« of C, which means that DXY may not turn down just like that. Looking at the EURUSD 4h time frame, there was some nice intraday rise to 1.07, but also move can be corrective within downtrend. Much stronger and important support can be around 1.05

Chart

Chart


Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.

By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!

By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD extends gains due to improved risk appetite

AUD/USD extends gains due to improved risk appetite

The Australian Dollar maintained its winning streak for the fourth consecutive session on Monday, buoyed by a hawkish sentiment surrounding the Reserve Bank of Australia. This optimism bolsters the strength of the Aussie Dollar, providing support to the AUD/USD pair.

AUD/USD News

USD/JPY snaps three-day losing streak above 153.50, Yellen counsels caution on currency intervention

USD/JPY snaps three-day losing streak above 153.50, Yellen counsels caution on currency intervention

The USD/JPY pair snap a three-day losing streak during the Asian trading hours on Monday. The uptick of the pair is bolstered by the modest rebound of the US Dollar and US Treasury Secretary Janet Yellen’s comments on potential Japanese interventions last week. 

USD/JPY News

Gold price rebounds on downbeat NFP data, softer US Dollar

Gold price rebounds on downbeat NFP data, softer US Dollar

Gold price snaps the two-day losing streak during the Asian session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Federal Reserve. This, in turn, has dragged the US Dollar lower and lifted the USD-denominated gold. 

Gold News

Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”

Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”

Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.

Read more

Week ahead: BoE and RBA decisions headline a calm week

Week ahead: BoE and RBA decisions headline a calm week

Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.

Read more

Majors

Cryptocurrencies

Signatures