The US Dollar Index Finds a Bottom
The US Dollar Index has found a bottom before it continues it's historic rise. Since July 18th, the dollar issued a massive 12 week rally resulting in an impulse wave with both a third and a fifth wave extension. The resulting correction, labeled as wave 2, appears to be finished, or very close to finished. Wave 2 carved out a double zigzag that has perfect Fibonacci proportions. Wave Y took 61.8% of the time that wave W did, but chewed up 161.8% of the price. The double zigzag has found support perfectly just beyond the price territory of wave 4 of one lessor degree. A text book structure.
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