Last time I wrote about the dollar index back in early August. You can see that idea here in Russian version of TradingView.
At that time, we observed the initial waves, from which a real impulse developed over these six months. The expected goals of the movement have already been achieved, and wave {iii} has not ended yet.
With the advent of February, the index touched the value of 97.5 - the maximum since the summer of 2020. I assume that this happened at the end of wave (iii)of{iii}.
➡️ Given the sharp zigzag correction in wave (ii)of{iii}, I expect a sideways movement in wave (iv)of{iii}, relying on the alternation of correction formats in the traditional impulse. Probably wave (iv) will be a triangle or a flat. Simply put, a certain sideways movement will continue to form here in the range of 95 - 97. The expected trajectories of movement are shown on the chart.
📈 After the end of the correction, the growth in wave (v)of{iii} may reach the area of 98.5 – 99.5.
➖ Cancellation of the scenario when the price fixes under the lower border of the doubled channel (i)-(ii)-(iii) and/or falls below the top (i), which lies at the level of 93.7.
At that time, we observed the initial waves, from which a real impulse developed over these six months. The expected goals of the movement have already been achieved, and wave {iii} has not ended yet.
With the advent of February, the index touched the value of 97.5 - the maximum since the summer of 2020. I assume that this happened at the end of wave (iii)of{iii}.
➡️ Given the sharp zigzag correction in wave (ii)of{iii}, I expect a sideways movement in wave (iv)of{iii}, relying on the alternation of correction formats in the traditional impulse. Probably wave (iv) will be a triangle or a flat. Simply put, a certain sideways movement will continue to form here in the range of 95 - 97. The expected trajectories of movement are shown on the chart.
📈 After the end of the correction, the growth in wave (v)of{iii} may reach the area of 98.5 – 99.5.
➖ Cancellation of the scenario when the price fixes under the lower border of the doubled channel (i)-(ii)-(iii) and/or falls below the top (i), which lies at the level of 93.7.