DXY fifth upside wave extension
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DXY is bouncing off the strong upside support zone 101-102. This also represents the fifth wave of the five, an upside impulsive wave swing from 89 and a confirmation of the break above the long-term falling trend line.
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The weekly chart reveals an extension from the short-term uptrend line in the upside parallel channel with the target up to the 108-110 zone. The price action confirms the higher upside extension after the pullback to the support zone and retesting of the broken long-term downtrend line.
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