DXY - Retracement Complete 🧐

DXY appears to have completed its retracement exactly as I said on previous thread " to range of 0.236 - 0.382 but most likely will re-test support. And that is where it has reversed.

As can be seen a lot of buying pressure has come in at support which probably has a lot to do with stocks tanking.

This re-test of long term resistance turned support is an A wave and current upthrust will complete a B wave. From there it will most likely either print a standard or running flat C wave, but improbable that it will be a downward zig zag after such a forceful B wave, but never say never- it could get down to 0.382. Also the C wave can drift into further corrective noise along the x axis before moving up - I have no idea about that, but it will probably stay in range.

The structure of this move is very strong and assuming there is another wave up then the next 1.618 target is at $108. Watch for breakout will probably be fierce and many stocks will likely suffer more.

Not advice.