FX Sideways Price Action Waiting The NFP
The market is slow this week, and FED minutes did not show anything new. However, there was some disagreement among the FED members.
According to the release, all but two of the 18 participants expected that at least one hike would be appropriate this year, and 12 expected two or more. Sentiment, for now, did not change, as a lot of speculators thinks that important can be the NFP this Friday. So actually, markets can be slow even till tomorrow.
From an Elliott wave perspective, I see DXY still in a corrective rise, but the rally can be higher as wave B can also be a triangle, so higher resistance at 103.80-104 can even be touched, but sooner or later there can be new sellers, trying to push prices lower, but we will need a catalyst for the move. Also, despite higher DXY and lower stocks this week, the kiwi is still doing well, it's up near 0,8%, so I assume that uptrend on kiwi may resume as soon as stocks will try to stabilize.
If you want to hear more updates about Elliott waves then check also our video below, or you can check our website wavetraders.com for more details.
VIDEO YOUTUBE LINK https://youtu.be/TtFHTL7az7Q?t=347