As you know, Elliott wave is very subjective … so you have to make your own due diligence. I will try to do my best to provide Sir Wazcam

and others interested, my view at the moment.

DXY:  Actually we are consolidating with a five waves structure that I’m labeling with a w-x-y pattern. It looks that DXY still has room to probably test 90.80 …             or not before falling to 87.50 or 86 before the next rally.

 

 

EURUSD:  EU has the same structure (5 waves with a w-x-y pattern). It just bounced from the trend line so there is a possibility that Minor 4 is done.

Please note that a breakout of the red trend line (10 years) is very important.

 

 

Gold:  there is a possibility that gold made only a three waves structure (w-x-y) and that Minor 2 is done but we need confirmation …

Gold did not make a lower low today so it’s possible that we are starting Minor 3.

I’m not very confident with this option till we break the golden neckline (I’ll be happy if i’m wrong) .

 

 

I want to point out that there is still a possibility for another leg down for gold (maybe forming a w-x-y-x-z)

if we take the inverse H&S with time duration and symmetry. IF this is the case, it’s still possible to make

another leg down in the 1270-80 area or even lower (probably in June) .  Remember that the low of the last impulsive wave is at 1237

so anything is possible …