There is much noise about dollar losing its king status in the world.
The drop in the yellow wave b within a correction could have spurred that speculation.
You can see that it was a natural move to retest broken former barrier.
It was successfully rejected as the price bounced up quickly.
The target for the next move could be around $125
where yellow wave c will be equal to yellow wave a.
The next possible target is around $141
where yellow wave c will be equal to 1.618 of yellow wave a.
Where do you think DXY would go next?
-$125
-$141
-down
The drop in the yellow wave b within a correction could have spurred that speculation.
You can see that it was a natural move to retest broken former barrier.
It was successfully rejected as the price bounced up quickly.
The target for the next move could be around $125
where yellow wave c will be equal to yellow wave a.
The next possible target is around $141
where yellow wave c will be equal to 1.618 of yellow wave a.
Where do you think DXY would go next?
-$125
-$141
-down