Forex Trading Library

DXY Global Cycle Trend to End at 106.58

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The current DXY structure hints at the development of a large triple zigzag w-x-y-x-z of the cycle degree.

Most likely, a cycle actionary wave z is currently under construction. The internal structure of the wave z suggests a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The primary wave Ⓩ is still in the process of development. It could take the form of a double zigzag (W)-(X)-(Y) of the intermediate degree.

Price could continue higher to the level of 106.58. At that level, wave z will be at 161.8% of previous actionary wave y.

Alternatively, it is assumed that the cycle actionary wave y was longer, and at the time of writing it has come to its end. It has the form of a primary triple zigzag.

Thus, if this option is confirmed, in the near future the market will move in a downward direction, building a cycle intervening wave x. It is similar to the primary double zigzag Ⓦ-Ⓧ-Ⓨ.

It is possible that the price will fall to 101.96, as indicated on the chart. At that level, wave x will be at 23.6% of wave y.

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