US Dollar At Key Resistance

The US Dollar Index (DXY) is at key resistance, while the Euro is at support, and I am looking forward to resolution of these micro patterns.

In the DXY, the alternate count -- a corrective bounce preceding further decline -- seems to be about as probable an option as the count marked primary.  I would be careful with longs at the 93.08 region, as we may get a turn down from there.

In the EURUSD, 1.18118 Fib support could complete wave iv correction, though I would prefer a deeper pullback.  A direct break below 1.18118 could open the door to the 1.16886 region, though that seems to be the less likely option at the moment.

.DXY - Alternate Micro - Sep-02 1501 PM (1 hour)
.DXY - Alternate Micro - Sep-02 1501 PM (1 hour)
EUR= - Primary D - Sep-02 1459 PM (1 day)
EUR= - Primary D - Sep-02 1459 PM (1 day)
EUR= - Primary Micro - Sep-02 1459 PM (1 hour)
EUR= - Primary Micro - Sep-02 1459 PM (1 hour)
.DXY - Primary Micro - Sep-02 1501 PM (1 hour)
.DXY - Primary Micro - Sep-02 1501 PM (1 hour)
EUR= - exPrimary D - Sep-02 1459 PM (1 day)
EUR= - exPrimary D - Sep-02 1459 PM (1 day)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.