DXY has been slowly completing the downward ABC formation and now showing early signs of reversal from the low made on 14th December at 103.448.
Of the ABC formation, last leg C was was an impulse (shown as i-ii-iii-iv-v) and v was an ending diagonal which should have completed the down move. If I am right, we have made minor i of 1 or A on the upside and currently in minor wave ii. A positive close from here should complete wave ii and kick off the iii on the upside. Once we break the high of wave i at 104.931, we would also start making HH-HL (higher highs and higher lows) confirming short term trend reversal as per Dow Theory.
