Dollar Index has a long fall from 121 the Jule of 2001 until to the Match of 2008 at 70.03. There was ended some impulse wave - presumably wave I or c. From the March of 2008 US Dollar Index are still working on two scenario:
- Motive movement
- Correction movement (Note: not all correction counts show at this chart)
This both scenario have a same sub-wave count now. Wave ((3)) still progress, where wave (4) have not ended yet. Wave 5 of wave (3) is extended wave. Usually correction should reaches a price territory of wave two in previous dimension or wave fourth in same dimension. Because wave 4 of wave (3) cross price territory wave (1) I think wave (4) will end at area 85.5-87.5.
After this fall US Index should rise in wave (5) with next targets: 109 = 2.168 x wave (1) and next one 113.7 = 3 x wave (1)
This scenario also explains how will behave EURUSD: Fall and subsequent grow.
- Motive movement
- Correction movement (Note: not all correction counts show at this chart)
This both scenario have a same sub-wave count now. Wave ((3)) still progress, where wave (4) have not ended yet. Wave 5 of wave (3) is extended wave. Usually correction should reaches a price territory of wave two in previous dimension or wave fourth in same dimension. Because wave 4 of wave (3) cross price territory wave (1) I think wave (4) will end at area 85.5-87.5.
After this fall US Index should rise in wave (5) with next targets: 109 = 2.168 x wave (1) and next one 113.7 = 3 x wave (1)
This scenario also explains how will behave EURUSD: Fall and subsequent grow.