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Dollar Index

The dollar index saw bullish sentiment come close to 90%. That said it is also at 95, an important resistance level, not just because it is wave 4 of the previous decline but also because the 20 month average is at 95. So one deflection down from from this level is possible. The next move down could either be wave 3 long term of wave B of 2 only. I prefer the first case but many currencies are weakening against the dollar that the second scenario should be kept open. The green marking is the alternate wave count on the chart.

dxy 220618

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