DXY has started a downtrend?
From my point of view, DXY is forming an extended wave 5 momentum pattern. We are currently in the last wave of this pattern.
When we go down one time frame, we see that the recent correction is an Elongated flat, which when this pattern comes at the beginning of a correction, it warns us that the upcoming correction will probably be a triangle.
For this reason, I think that the index will decrease to the range of 103.740 and then we have an upward movement.
Wave 5 of this pattern can move up to 127.673
When we go down one time frame, we see that the recent correction is an Elongated flat, which when this pattern comes at the beginning of a correction, it warns us that the upcoming correction will probably be a triangle.
For this reason, I think that the index will decrease to the range of 103.740 and then we have an upward movement.
Wave 5 of this pattern can move up to 127.673
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