DXY has continued to rise in weekly uptrends. It is expected that the monthly correction process will be carried out where the weekly upward wave ends. However, there is a risk that the weekly uptrend does not end and continues to rebound in the weekly demand zone.
If the rebound fails in the weekly demand zone, the monthly correction will proceed as shown in the chart, coming down to the monthly demand zone. Even here, if the rebound is not big, a deep monthly correction will come out with a weekly downtrend. The signal that this monthly correction is ending will have to break the weekly downtrend first.
If the rebound fails in the weekly demand zone, the monthly correction will proceed as shown in the chart, coming down to the monthly demand zone. Even here, if the rebound is not big, a deep monthly correction will come out with a weekly downtrend. The signal that this monthly correction is ending will have to break the weekly downtrend first.
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