Wednesday, January 25, 2012

Dollar index DZZ possibility !

This is the chart which was posted on 9 Dec 2011, please refer the post here. We said there were two possibilities on DX one of an extended up move, and one that of a triangular consolidation. In the 'triangular consolidation' view, we had a possibility of wave E either completed or one more up leg possible to finish it. In today's post I am giving a chart which suggests a possible DZZ in wave E of {B} before an extensive down slide begins from here.
This adjacent chart shows that DZZ formation. We might correct right now till 78.25 - 77.40 levels, to complete wave (b) and then rise one more time to complete the wave [c] of this DZZ correction. What may happen only time will tell, but its always good to have a few road maps the prices may take in due course of time. Our other two vies of the post on 9-12-11 are still in play.

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