Dollar Index developing in fourth wave :
On these frames of daily charts, I’ve traced out the following alternate possibilities for Dollar Index developing in Intermediate fourth wave.
- A simple Zigzag in A-B-C decline
- A Triangle in A-B-C-D-E sideways
According to the first alternative, overall correction will be developed in three waves to the downside and ultimately retrace through the Fibonacci 0.5 level at 90.315, as the end point of wave (4).
While the second alternative, explains that how the ongoing correction will be extended in sideways to complete the wave (4) in five overlapping waves. The 93.155 low on May 15 must hold for the entire analysis on this concept to remain valid.