DXY is right now in what I believe to be a 4th wave correction, which has turned into a wxy, and probably also will turn into a WXYXZ.
It has plenty of room to develop.
Since 4th wave corrections has a tendency to enter the area of the 4th wave of previous impulse, it will most likely go up to the area of the green rectangle above.
This will be between 103.2 - 104,7.
If it will go further up before heading down is to early to say.
But my previous forecast about it will go down below 96 is still in play and intact.
It has plenty of room to develop.
Since 4th wave corrections has a tendency to enter the area of the 4th wave of previous impulse, it will most likely go up to the area of the green rectangle above.
This will be between 103.2 - 104,7.
If it will go further up before heading down is to early to say.
But my previous forecast about it will go down below 96 is still in play and intact.
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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.