$DXY Flat before #ElectionDay

2020年11月1日

DXY is looking it wants to bottom.

These are the elements in favors of bulls:

• A recent bullish divergence on the RSI indicator.
  
• The RSI has found support on 40 level
  
• The RSI divergence perfectly matches the end of a bearish Wave5
  
• The Bullish Wave 2 has been triggered and marked a low signaled by S34 and A55 exhaustion points
  

However, there are still some things in favors of bears:

• The bearish countdown which started on SU9 (Aug 6) is not over (bar 7/13)
  
• To complete this countdown, DXY needs to close back near the bearish Wave 3 target (@92)
  
• A potential bearish wave 2 is also in progress
  
• TDST Resistance has not been breached yet
  

To get a clear direction, we will probably have to wait for the results of the elections.
IF DXY closes above @94.5 a bullish wave 3 should be favored with a first target near 96
Otherwise, a further decline remains likely, with a bearish wave 3 target near @92