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DXY: We Are Waiting For The Final Wave Of The Bearish Double ZigZag!

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Chart of DXY

It seems that DXY is building a triple zigzag pattern, which consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have been completed. The actionary wave Ⓨ is a double zigzag, the second intervening wave Ⓧ is a standard zigzag.

Most likely, the depreciation of the price in the primary wave Ⓩ will continue. Judging by the internal structure, this wave may take the form of an intermediate double zigzag.

The final of the bearish trend is expected closer to the 96.367 mark. At that level, primary wave Ⓩ will be at 76.4% of wave Ⓨ.

Chart of DXY

And what if the last part of the bullish correction trend is being built? That is, a wave z is formed in a triple zigzag w-x-y-x-z.

The cycle wave z is similar to the zigzag Ⓐ-Ⓑ-Ⓒ. In its composition, the first impulse Ⓐ and the correction Ⓑ in the form of an intermediate double zigzag have already been completed. The entire wave z may end near 114.75.

The indicated level was marked by the primary impulse wave Ⓐ, which is not visible on the chart.

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