It might be too early to say but looks like dollar index may have completed minor wave ii of larger wave 3 and we might be starting minor wave iii of 3 from here. We’ll look for the following confirmations.
- Positive close for today.
- Break of wave i high, i.e. 110.260.
- Final confirmation would be break of larger wave 1 high of 110.786
This likely means that equities might be topping out for the time being and may start falling, as soon as today or tomorrow.
Update (21st Sept) – We have got all 3 confirmations that minor wave iii up has started which should be equal or more than minor wave i following which we should get minor wave iv pullback and then finally minor wave v up which could complete the wave 3.
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