FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

On the H4 chart of the #USDX index, a solid single zigzag "abc" was formed in an upward direction with a price range of 95.52 – 97.70. This zigzag is weakly associated in my mind with a potential 4th sub-wave within the descending 3rd wave, primarily due to its significant price range. It is more related to the 4th wave of a potential daily ending diagonal in the southern direction. However, this wave fell slightly short (a couple of points) of the price area of the 1st wave of the diagonal (97.72), but this could be attributed to a margin of error, as the formation of the ending diagonal looks realistic based on other parameters. If this is the case, then starting from the level of 97.70, which is already framed by the upper fractal, the development of the final 5th wave of the mentioned diagonal is expected. In this scenario, its target will be to update the existing extreme minimum at the level of 95.52.