The current DXY structure hints to a bearish double zigzag. The cycle degree w and y waves consist of primary sub-waves Ⓐ-Ⓑ and Ⓒ, whereas the corrective wave x is a triple zigzag.
Sub-waves Ⓐ and Ⓑ of c are fully completed, whereas wave Ⓒ is still under development.
Since bears seem strong in the final impulse Ⓒ the index could decline down to the 95.75 area.
That target would respect the tenancy of impulse waves А and С being equal.
A different perspective provides a likely alternative scenario. According to that, the primary wave Ⓑ has not yet been completed.
In this case, the current structure would be a flat correction, where intermediate wave (B) is equal in size to the intermediate wave (A).
We would then expect a 5-wave impulse (C) near 97.83. At that level, all waves would be equal in value, forming a flat pattern.
If bears push well below 96.57, then the alternative scenario would be invalidated.
