$DXY US Dollar Index

The U.S. Dollar still is advancing to higher levels in an extending 1-2, (i)-(ii), 1-2 wave progression to the upside in the last wave up – wave 5.

The expected target for the impulsive wave 3 is around 100.38, where equals 1.618 time the length of the same degree wave 1 and it is just shy of the technical resistance at the level of 100.38. Pleas enotice that the current labeling is showing even more bullish outlook and the target of 100.38 might be easily extended.

Support/Resistance:

100.39 – Techncial Resistance

100.28 – 161%Fibo

99.38 – Technical Support

Trading recommendations:

All buyers should watch the price action around the level of 100.38 as this might be the end of thebig cycle  wave 5, because trend looks mature now.

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