DXY Triple Zig-Zag To Fresh Lows

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The current DXY structure shows a bearish zigzag in the primary wave Ⓩ, which completes the cycle correction b. The correction leg consists of intermediate sub-waves (A)-(B)-(C).

At the time of writing, minor wave 3 has come to an end as part of the intermediate impulse (C).

Prices could rise within the corrective wave 4 near 91.12. At that level, this correction will be at 38.2% of impulse 3.

Finally, minor wave 5 could lead prices down to 89.24 where impulse 5 will be at 61.8% of wave 3.

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An alternative scenario shows an intermediate impulsive wave (C), with the bearish minor impulse wave 5 under development.

The first minute wave of the minor impulse 5 has ended as a leading diagonal.

In the medium term, the end of wave 5 is likely at 88.85 where impulses 5 and 3 will be equal.

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