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dxy elliott

The current DXY structure shows a triple zigzag in cycle wave IV. The corrective leg consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

Following the completion of correction wave Ⓨ, prices moved up in wave Ⓧ. However, wave Ⓧ is not yet complete. It consists of intermediate sub-waves (A)-(B)-(C).

In the short term, we expect prices to rise in wave (C) near 98.71. At that level, wave Ⓧ will be extended to 161.8% Fibonacci compared to wave Ⓨ.

A decline in primary wave Ⓩ can be expected afterward, near the low of 95.70.

dxy

An alternative scenario suggests that wave IV is a double zigzag Ⓦ-Ⓧ-Ⓨ.

In this case, the last bullish impulse wave V is currently under development.

We expect wave V to end near the 102.99 area formed by wave III, and perhaps even higher.

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