It can be seen in chart that around 106.50 , DXY would do its 38% tgt for its 5th wave of its C wave or its (iii) rd wave, which means a dip down again to 100 in case of a (iv) th wave is around the corner as soon as next week.
In case of move beyond 106.50, it would only mean a extended move for 5th of (iii)/C but even then a trip back to 100 is about to start in...
It is likely that DXY has started to show a pull back to 100 or slight below it. Wave 2 of this 5th wave was small so wave 4 could be 38% to 50% in retracement
My view is bearish on dollar and this is best bearish count to my mind.
61% retrace of whole decline of fall from 101 to 89 is almost achieved.
Even if dollar has to rise more to 78.6% retrace or complete 100% retrace to form a triangle , then also it has to provide a second X wave and then it may rise again for a final Z wave on upside before a larger decline...
Nifty is in some sort of triangle
Bearish triangle 1: triangle range 14155-15044, under this count nifty has done its A wave at 15044, B is under formation in which W of B ended at 14418 and X of B ended at 14966 and Y of B is under progress which is again abc,( a) wave of Y is done at 14595 and after doing a( b) of Y again( c) of Y would come which would end...