DXY Triple Zigzag Drops Below $100!

<div><img width="750" height="430" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095947/Elliott-Wave-7.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Elliott Wave" decoding="async" loading="lazy" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095947/Elliott-Wave-7.webp 750w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095947/Elliott-Wave-7-300×172.webp 300w" sizes="(max-width: 750px) 100vw, 750px" /></div><p><a href="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY.webp"><img decoding="async" loading="lazy" class="aligncenter wp-image-204060 size-full" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY.webp" alt="Chart of DXY" width="1200" height="627" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY.webp 1200w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY-300×157.webp 300w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY-1024×535.webp 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095821/DXY-768×401.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></a></p>
<p>The long-term outlook for the dollar index shows a triple zigzag pattern. This consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the moment, the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ look completed.</p>
<p>The final wave Ⓩ is forming. Judging by the internal structure, this wave can take the form of an intermediate double zigzag (W)-(X)-(Y). The sub-waves (W)-(X) look finished, wave (Y) is under development.</p>
<p>The end of the bearish pattern is expected near 96.319. At that level, primary wave Ⓩ will be at 76.4% of wave Ⓨ.</p>
<p><a href="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2.webp"><img decoding="async" loading="lazy" class="aligncenter wp-image-204061 size-full" src="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2.webp" alt="Chart of DXY" width="1200" height="627" srcset="https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2.webp 1200w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2-300×157.webp 300w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2-1024×535.webp 1024w, https://assets.iorbex.com/blog/wp-content/uploads/2023/06/26095843/DXY2-768×401.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px" /></a></p>
<p>Let’s look at the second markup scenario, in which a wave z is formed in a triple zigzag w-x-y-x-z.</p>
<p>The internal structure of the wave z is similar to the zigzag Ⓐ-Ⓑ-Ⓒ. In it, the first impulse Ⓐ and the correction Ⓑ have ended. The final wave Ⓒ is being constructed, or rather its intermediate sub-wave (3).</p>
<p>It is possible that the impulse (3) will be at 200% of impulse (1), so its end can be expected near 109.48.</p>
<p>The post <a rel="nofollow" href="https://www.orbex.com/blog/en/2023/06/dxy-triple-zigzag-drops-below-100">DXY Triple Zigzag Drops Below $100!</a> appeared first on <a rel="nofollow" href="https://www.orbex.com/blog/en">Orbex Forex Trading Blog</a>.</p>