It is known that the Dollar and the Euro are inversely correlated, but What we found here is the Elliott Wave Structure that is respected by both currencies but in inverse way.
If We look on the graphs we can see that the Euro is moving downward, however the DXY is rallying to smash previous highs.
According to Elliott Wave Theory, Both currencies are in Wave C, which is the last wave in the cycle.
Let's see in the next few days if the EUR/USD will reach the 1.1924 level and the DXY test the 92.13 mark.
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Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
If We look on the graphs we can see that the Euro is moving downward, however the DXY is rallying to smash previous highs.
According to Elliott Wave Theory, Both currencies are in Wave C, which is the last wave in the cycle.
Let's see in the next few days if the EUR/USD will reach the 1.1924 level and the DXY test the 92.13 mark.
-------------------------------------------------------------------------------------
Please press “Like” if you appreciate the trading idea 👍
“Follow” for more trading ideas in the future 👀
“Comment” below to share your thoughts with us and other traders 👥
-------------------------------------------------------------------------------------
Risk Disclaimer: All trading ideas published by “collegeofpips” are for educational purposes only. These posts can help you to enhance your trading skills, but please do your own research before opening any trading position. ⚠️
