There is a large 5 wave sequence for the DXY to reach higher highs. However, we need to see a drop in price to create the 4th wave before the move higher. Price had a nice run up in the past few weeks, but it reached a monthly resistance level, and retested the ascending trendline it broke out of back in March. Also, a bearish engulfing pattern at this zone of confluence. We should see a move down to 89.75 zone before the move higher.
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