18 Mar 2021 ● 05:38 AM
The hourly chart of the dollar index shows a double zigzag complete on the way up, but the subsequent decline is not clearly impulsive. This can mean 1 of 2 things. Either the distribution pattern like a triangle is forming before the next leg down can start, or this will become a triple zigzag with one last ABC rally higher to complete the structure for wave 2. I do not have a preferred outcome but it does mean that I need to give it some time before a clear-cut decline wave for the dollar can start.