When I look at the DXY on monthly basis and try to put Elliott count on it this is where I tend to expect. I think we're on a bullish extended wave (so calls are more favorable). The current state of that impulse is in corrective wave (4). The apparent structure of that correction tends to be a divergent triangle. We would be at the final wave of that triangle (from d to e). This final subwave looks like an impulse and at this point we would still need to find a 4 point and then push lower again for a final 5th wave.
CONCLUSION, to me it seems like its a bit too early (on monthly basis) to buy dollar, we may require a short term final subwave count before reaching the perfect bullish entry. I also note that we have the 2015 opening price of the DXY slightly below. This level also coincide with the triangle a > c trendline...
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