Credit expansion period has finished in 2008, what became the lowest turning point for DXY. Credit contraction means no way for USD devaluation, so it can only rise from there. No credit expansion means no inflation, whatever central banks are doing is not inflationary (see "Steven Van Metre" youtube channel ) despite majority perceives "money printing" should lead to it. This wrong perception by the public is reflected on the chart as correction wave 2. Pretty soon dollar uptrend will resume smashing stock market and gold.
Comment:
Looking at the structure of the wave 2 (red) it seems more like a flat or flatish zig-zag (the first sub wave A seems having 5-wave structure). But both flat and zig-zag should end up with a final wave C subdivided into 5. So we should be expecting the move from March 2020 top to form a proper motive wave. Normally RSI shows divergence with price chart on tipping points of wave 3 and 5, as seen in Sep 2017 and Feb 2018. But it does not show divergence now, what leads to the idea that downtrend started in March is not yet over.
