The DXY remains in a prevailing downtrend, and I estimate that it is currently in the final stages of wave (v) of wave [iii]. The correction is projected to extend toward the 97.023–97.739 area. Meanwhile, the nearest potential rebound zone is located between 99.690 and 100.764.
Trade active
DXY appears to have reached the minimum downside target previously projected. Monitor the next movement closely, as there is a potential for a short-term rebound toward the 99.6990–100.067 range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.