So the fresh DXY view seem to be working so far and DXY has completed a 5 wave decline from wave B which means C is complete. Further, we have had a weekly positive close since then which are early signs of next leg up starting.
Now, this next leg up could be the fresh impulse on upside which should eventually surpass the September high of 114.778. This is my preferred view. Alternative is that this is an extension of the ongoing correction and might end up in some kind of complex structure. Till we see any signs of that, we’ll got with the former view as per which we have started the next major leg on the upside.
Let’s wait and see how it evolves.
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