The dollar index is still forming wave 4. In wave 4, waves a and b are complete and wave c is forming.
In wave C, waves 1 and 2 are complete and now we are inside wave 3, and one of the microwaves of wave 3 reacted to Fibo 1.27 and returned.
If it can not break this Fibonacci in the next decline, in this case we expect the price to move up to the ceiling of the pink channel.
After the price hits the channel ceiling, we expect the dollar index to move to the next move to Fibonacci 1.618, which is at one point with the red channel floor.
If the bottom of the red channel is completely broken, this analysis will be fielded.
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