Dollar Index

Instead of A-B-C, the entire countertrend bounce from January in the dollar index can now be marked as W-X-Y, because yesterday's decline in the dollar index overlap with the previous wave converting it into a 3 wave rise rather than a 5 wave advance that is typically expected in wave C. So 3-3-3 move is the only explanation the new evidence shows up. We do need momentum indicators also confirm. What we don't know is whether the complex pattern will now going to Z. Once you see a clear impulsive decline on hourly charts it can be concluded that the top is in place