The current DXY structure hints at a triple zigzag pattern consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. All waves are simple zigzags.
Currently, wave Ⓩ is under construction. It consists of intermediate sub-waves (A)-(B)-(C).
Wave (A) is a 5-wave impulse whereas wave (B) is a flat.
In the short term, we can expect prices to reach 93.63 in impulse C.
We could then see the final bearish impulse in wave (C) near 90.08. At that level, wave (C) will be at 161.8% of impulse (A).
An alternative scenario shows primary wave Ⓩ taking the form of a bearish zigzag (A)-(B)-(C).
However, this case assumes that correction wave (B) could take the form of a standard (A)-(B)-(C) zigzag.
Therefore, the market could move to the 96.40 area in minor sub-waves A-B-C. At this level, wave (B) will be at 76.4% of intermediate impulse (A).
The market could then decline in impulse wave (C).
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