Targeting DXY's Pivot High

Our primary count in the US Dollar Index (DXY) adopted this past week is now confirmed, with the ideal target for the 4th wave remaining unchanged. 

That target (noted on the 4-hour chart) is 94.44, which is the near-term resistance level where we may get the 4th wave completed within the larger wave (3) pullback.  Otherwise, a corrective pullback would set up a further advance to the upside.

It's worth adding that over 96.56 the count would be questioned, but that option seems to be MUCH less likely now.

In the EURUSD, the primary micro count is slightly adjusted as we got a drop below the signal level. The ideal target for a pullback is the 1.16333 - 1.15485 region.  A direct decline below 1.146 would question the count and force me to revise the count.

So far the targets for the wave iii and v of (iii) remain unchanged.

EUR= - Primary Micro - Aug-03 0815 AM (4 hour)
EUR= - Primary Micro - Aug-03 0815 AM (4 hour)
.DXY - Primary D - Aug-03 0810 AM (1 day)
.DXY - Primary D - Aug-03 0810 AM (1 day)
.DXY - Primary Micro - Aug-03 0810 AM (4 hour)
.DXY - Primary Micro - Aug-03 0810 AM (4 hour)
EUR= - Primary D - Aug-03 0814 AM (1 day)
EUR= - Primary D - Aug-03 0814 AM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.