DI has so far traced out an Elliott Wave pattern of a double zigzag. I am giving a link to my last post on DI, one can observe how precise your forecast can be using EWP. We have taken the support in the range mentioned in our last post, and has moved up towards our target of 84. There are however alternate possibilities on the DI, this is just one of them we have discussed here. On the near term though, we are tracing out a clear 5 wave pattern in wave (c) of [y] of E of {B} (see last post for weekly chart). WE may continue this sideways move for a while and then rise to complete wave {5} or we may have completed the wave {4}, and are already rising in wave {5}. Using the guideline of alternation, since no new high was made in wave {2}, we can expect a new high in wave {4} or a triangle. So waiting for the correction to resolve is probably the best option right now. The wave counts on large fractals are quite bearish for the dollar, and it will take time to play out. The prudent thing to do, will be to take one wave at a time.
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