5 Mar 2021 ● 04:02 AM
The dollar index is now doing what it did in Sep-Oct, an A-B-C bounce which was a flat, or 3-3-5 pattern. Furthermore, because the recent bounce is also a flat, it cannot be wave 4 [alternation is missing], so I think my wave counts on the larger degree of the trend are right. What is going on now is wave C of 2, which will subdivide into 5 fives. wave iii of C is going on and iv and v are pending before the next move lower can start. A parallel channel may be used to map the ABC move and it is possible that in wave C prices pop above the top end of the channel in a throw over before completing wave 2. The 50% retracement of wave 1 is near 92 and 61.8% is at 92.64.