Hello traders, DXY in 1-hour timeframe, this analysis was prepared in 1-hour timeframe but has been published for a better view in 2-hour timeframe.
The dollar index of wave b is within wave c of four hours in time, and this wave will be one of five waves.
From wave c we think that waves 1, 2 and 3 are formed and wave 4 is being formed. According to the current structure, this wave is likely to be formed as a triangle and from this triangle the waves e and d remain, Wave d ends on the upper side of the triangle and wave e is likely to hit the lower side of the triangle and form the fifth wave of wave c in the middle of the path. The fifth wave can eventually reach Fibonacci 2.618 for wave c. Move relative to wave a so wave five is weak and short.
If the blue trend line and the lower side of the triangle are broken, the descent will be confirmed.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
The dollar index of wave b is within wave c of four hours in time, and this wave will be one of five waves.
From wave c we think that waves 1, 2 and 3 are formed and wave 4 is being formed. According to the current structure, this wave is likely to be formed as a triangle and from this triangle the waves e and d remain, Wave d ends on the upper side of the triangle and wave e is likely to hit the lower side of the triangle and form the fifth wave of wave c in the middle of the path. The fifth wave can eventually reach Fibonacci 2.618 for wave c. Move relative to wave a so wave five is weak and short.
If the blue trend line and the lower side of the triangle are broken, the descent will be confirmed.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️