Intermediate Fourth Wave Underway :
The U.S. Dollar Index retraced through the 38 percentage of Intermediate extended wave (3), so far. This correction that started in March 13 peak of 100.390, could be counted as a part of more extensive correction in Intermediate wave (4), which is not yet complete.
The anticipated fourth wave developing has shown in the following alternatives on weekly frame :
- Developing in the sideways as an (A-B-C-D-E) triangle, which its Minor wave A has completed, Minor wave B rally may remains in progress, and the following waves of the same degree lie ahead.
- Developing to the downside in a (W-X-Y) double zigzag, which its Minor waves of W and X have completed, and Minor wave Y may have started its way down in three waves.
Both interpretations carry the same message : The correction will continue to progress, likely over the coming months.