DXY is entering potential reversal area

We have really important signal here - DXY has reached the bottom region of the target zone on the Option 2D chart - and respectively it may be a spot for potential major reversal. The counts in Euro are not yet full and decline could continue - but it is time be be careful with shorts, certainly.

Worth adding that possible targets in both, DXY and EURUSD have been presented a few months ago; possible targets for the respective Option 1D scenarios - more that 1 year ago.

Technically, the recent updates remain applicable.

EURUSD: I have added the Option 3 Micro count - it is an alternate scenario requiring a rally over 1.09 resistance region for validation. The Option 2 Micro count is still my preference - and this scenario suggests a plunge to 1.064 - 1.058 area at the next step to the downside.

The counts of a larger degree remain fully intact and the Option 2D count suggests a major reversal at the next low. The Option 1D count is less likely alternative, at the moment - though, in the case we only get corrective bounce off the next low I would certainly have to credit this scenario.

DXY: not much to add to the previous updates. I am favoring the Option 2D count - and this scenario suggests major reversal at the next high (presumably, 100.96 - 101.34 region).

Corrective pullback would prompt me to reassess probability of the Option 1D count (now - less likely alternative).

.DXY - Option 2D linear - Apr-19 0856 AM (1 day)
.DXY - Option 2D linear - Apr-19 0856 AM (1 day)
EUR= - Option 1D - Apr-19 0857 AM (2 day)
EUR= - Option 1D - Apr-19 0857 AM (2 day)
EUR= - Option 2D Linear - Apr-19 0857 AM (1 day)
EUR= - Option 2D Linear - Apr-19 0857 AM (1 day)
EUR= - Option 3 Micro - Apr-19 0857 AM (4 hour)
EUR= - Option 3 Micro - Apr-19 0857 AM (4 hour)
.DXY - Option 2 Micro Linear - Apr-19 0857 AM (1 hour)
.DXY - Option 2 Micro Linear - Apr-19 0857 AM (1 hour)
EUR= - Option 2 Micro Linear - Apr-19 0857 AM (4 hour)
EUR= - Option 2 Micro Linear - Apr-19 0857 AM (4 hour)
.DXY - Option 1D - Apr-19 0856 AM (1 day)
.DXY - Option 1D - Apr-19 0856 AM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.