Pump Inbound for the Dollar Index
A likely bottom has been found for the US Dollar Index. I'm labeling the down trend as a triple zigzag. It subdivides the easiest, although other labeling techniques are also acceptable. More importantly, the second wave has retraced a Fibonacci 61.8% from the high. A guideline for a second wave retracement which sports a zigzag or zigzag combination pattern. The reaction from the low has produced a valid impulse wave which, according to the theory, will produce a second wave retracement of lesser degree that will not break the low.
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