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The DXY formation hints at a cycle correction b, which takes the form of a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag.
The final wave of the triple zigzag is an intermediate (A)-(B)-(C) zigzag.
It is likely that minor correction wave 4 is close to completion at the 90.71 area. At that level, correction 4 will be at 38.2% of impulse 3.
Prices are could decline within impulse wave 5 near 88.23. This will be at the 61.8% Fibonacci extension of small impulse wave 3.
An alternative scenario indicates a fully formed cycle correction b.
Thus, in the medium term, we expect an increase in prices and the formation of a new bullish trend. A new cycle degree wave c could form an impulse or an ending diagonal.
In the next coming trading days, bullish growth is expected above the maximum formed by the second-minute wave, above 92.79.
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