Bullish Outlook :

The outlook has not changed on dollar index in the weekly frame. The corrective wave (4) remains in an exhaustive state as the double zigzag in Intermediate degree, prior to the start of the next waves of advance in Intermediate wave (5) likely underway.

Based upon the bullish view, the wave (5) that could have begun at 92.62, will eventually carry the Index to new highs above 100.39 (Mar. 13), the prior Intermediate wave (3) high.

The ultimate target for this dollar advance is around the 104.02 level, where the waves (5) and (1) are equal – a common relationship.

DX - Weekly

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