By Orbex
The current DXY structure hints at a bullish 5-wave impulse consisting of cycle degree waves I-II-III-IV-V.
In the above chart, we can see the final part, impulse V, being formed. It consists of primary sub-waves.
With the primary corrective wave ④ completed, a move towards 100.37 can be expected in wave ⑤. The target would respect the tenancy of impulse waves ③ and ⑤ being equal.
A different view can be provided on the above DXY depiction, where the primary corrective wave ④ is seen as incomplete.
The correction could take a flat formation, consisting of intermediate sub-waves (A)-(B)-(C). But any corrective pattern can be expected.
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With the flat formation in mind, a raise to the 98.81 area can be followed by a decline near 97.42.
Both targets take into account the fact that all sub-waves of the flat formation are usually equal in size.
By Orbex
