The USD Index is trading nicely to the downside, unfolding a big bearish impulse, which we see it as Black Wave 1. That said, we can see sub-wave: one, two, three and four completed, meaning current intraday drop can be in final sub-wave five of 1. This Blue Wave v can reach levels near the 92.75/80 region, and from there make a new three-wave reversal higher. This three-wave rally would later be regarded as the following Wave 2.
USD Index, 1 hour
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