Elliott Wave shows support area in Doge Coin (DOGEUSD) [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Short Term Elliott Wave view on Dogecoin (DOGEUSD) suggests rally from 6 September 2024 low is unfolding as a 5 waves impulse. Up from 6 September, wave ((i)) ended at 0.1798 and pullback in wave ((ii)) ended at 0.1419. The crypto extended higher again in wave ((iii)). Up from wave ((ii)), wave (i) ended at 0.2178 and pullback in wave (ii) ended at 0.185. Wave (iii) higher ended at 0.304 and pullback in wave (iv) ended at 0.273. Final leg wave (v) higher ended at 0.4397 which completed wave ((iii)) in higher degree.

Doge Coin (DOGEUSD) 60 Minutes Elliott Wave chart

Wave ((iv)) pullback is in progress with internal subdivision as a double three Elliott Wave structure. Down from wave ((iii)), wave (w) ended at 0.3406 and wave (x) rally ended at 0.434. Wave (y) lower is now in progress and expected to reach the blue box area of 0.274 – 0.335 to complete wave ((iv)). This area is 100% – 161.8% Fibonacci extension of wave (w). From the blue box, the crypto currency should extend higher or rally in 3 waves at least. Near term, as far as pivot at 0.142 low stays intact, expect pullback to find buyers in 3, 7, 11 swing for further upside.

DOGEUSD Elliott Wave video

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

GBP/USD stays defensive below 1.3300 amid pre-Fed market caution

GBP/USD stays defensive near fresh July lows in the 1.3270 region on Tuesday. The pair struggles as the US Dollar (USD) sits at monthly highs amid market caution ahead of the two-day US Federal Reserve monetary policy meeting, while a sell-off in stocks fuels demand for the safe-haven currency.

EUR/USD hangs close to monthly lows near 1.1350 on USD strength

EUR/USD is consolidating near the monthly trough, trading near mid-1.1300s in the European morning on Tuesday, undermined by persistent US Dollar demand. Traders seem hesitant and await the outcome of a two-day FOMC policy meeting before placing aggressive directional bets.

Gold languishes near $4,000 ahead of FOMC decision

Gold (XAU/USD) maintains its offered tone through thef the European session on Tuesday and currently nears the $4,000 psychological level. This follows the previous day's failure to find acceptance above the $4,100 mark and suggests that the path of least resistance for the bullion remains to the downside amid a bullish US Dollar (USD) undertone.

Bitcoin slips below $64,000 as risk-off sentiment grips markets

Bitcoin (BTC) is extending its correction, trading below $64,000 at the time of writing on Tuesday after losses of over 2.5% the previous day. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) recording a mild outflow on Monday, marking three consecutive days of withdrawals.

Indian Rupee outlook: Downtrend set to persist – Just at a slower pace

The Indian Rupee just endured its most brutal six-month stretch in years, battered by a perfect storm of global shocks. From United States (US)-India trade uncertainty to surging Oil prices and the significant outflow of Foreign Institutional Investment (FII) from the Indian stock market, every event brought nothing but pain for the Indian currency.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.