DXY/EURUSD/GBPUSD/USDJPY Elliott Wave Counts
Global Currencies daily chart DXY EURUSD GBPUSD USDJPY Analysis Dollar Index (DXY) has shown a reversal after relieve in inflation data last week. The index was moving in an expanding diagonal and potentially has completed wave v which now open fresh leg on the downside. The fall in DXY will help its peers to move higher which I have explained in detail. DXY will plunge towards its next support placed at 140-103 levels over short term. EURUSD constitute 57.6% of Dollar index, the recent inflation numbers from US has come down from 8.2% to 7.7% indicating that FED has been successful in taming the inflation after incessant rate hikes. From Waves perspective, prices have completed (w-x-y) pattern and has then started moving higher in impulse fashion where it has completed wave i and wave ii and has unfolded wave iii higher which can go till 1.07-1.09 levels. Moving averages has also given a bullish crossover after March 2022. GBPUSD which completed its complex correction in a side