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DXY: Triple Combo Hints at Further Weakness
The medium-term DXY structure hints at a bullish impulse wave of the cycle degree, consisting of primary degree waves. Following the conclusion of a wave bears opened several bulk short orders the pattern of which looks like a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-. Within the next few trading sessions we expect to see a decline near 97.70. That is the level where wave b will be at the yum 61.80% Fibonacci retraxement. In corrective patterns, we often see waves b reaching the 61.8% of the impulse a, so the probability of reaching this level is high. When keeping an open mind for alternative scenarios, we can also expect the cycle ... (full story)