Quick time period Elliott Wave view on Dollar Index (DXY) suggests cycle from 8.10.2022 low is in progress as an impulse Elliott Wave construction. Up from 8.10.2022 low, wave 1 ended at 110.786 and dips in wave 2 ended at 107.69. The Index has resumed greater in wave 3 with inner subdivision as one other 5 waves in lesser diploma. Up from wave 2, wave ((i)) ended at 110 and dips in wave ((ii)) ended at 109.27. Index then resumed greater once more in wave ((iii)).
Up from wave ((ii)), wave (i) ended at 110.26, and pullback in wave (ii) ended at 109.35. Index resumes greater in wave (iii) in direction of 111.57, and pullback in wave (iv) ended at 110.612. Close to time period, whereas above wave (iv) low at 110.61, count on the Index to increase greater inside wave ((v)) to finish wave 3. Afterwards, it ought to pullback in wave 4 to appropriate cycle from 9.13.2022 low earlier than the Index resumes greater once more. So far as pivot at 107.7 low stays intact, count on pullback to seek out assist in 3, 7, or 11 swing for additional upside. Potential goal greater is 100% -161.8% Fibonacci extension from 8.10.2022 low which comes at 113.8 – 117.6 space.