The USD index is under close watch as of recent weeks again as price action could be attempting a jump higher. It is quite possible to label a completed major wave 2 with minor waves (i) higher completed as well as minor wave (ii) correction. Minor wave (i) is considered an expanding leading diagonal with wave (ii) retracing to the 78.6% fib retracement level, which is not uncommon for waves of the second degree. If our wave count is correct then we have wave-i and wave-ii completed with wave-iii currently underway and should continue to move higher to target the 81.43 level as an initial target. A move below the 79.77 level would invalidate this wave count.
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