Dollar Index: Anticipated Happened

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 DXY daily chart anticipated on 31st Jan 2022


DXY daily chart happened on 13th June 2022


In my previous article on Dollar Index, I had mentioned that , " DXY has a support placed at 94.5, as far as it is protected, prices are likely to move till 102-105$ over medium term."

Prices reached till 105 levels after the US inflation data shot up above 8% since past 40 years which will open aggressive interest rate hike by FED- Anticipated Happened.

To view my previous article on DXY , click on the below link

https://www.marketanalysiswithmeghmody.com/2022/01/dollar-index-dxy-elliott-wave.html

From Waves perspective, prices are moving in a extended impulse wave and is all set to complete the upmove. The index is currently moving in wave v and is on the brink to complete this last leg which eventually lead prices to a corrective wave.

USDINR is also moving in a distribution pattern and can reverse anytime soon. To view the article on USDINR, click on the below mentioned link.

https://www.marketanalysiswithmeghmody.com/2022/05/usdinr-elliott-wave-analysis.html




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