FX.co ★ wkoss | Wave Wisdom: Mastering the Art of Wave Marking in Forex!

The USDX yesterday broke the day's balance at 105.70 and confirmed the continuation of the decline. However, the H1 resistance at 106.10 was not breached. Therefore, the price remains poised for a continuation of the correction in the form of wave (ii) of (3) towards the H4 support at 104.50. If this level is not breached, I anticipate a price reversal towards the H1 resistance at 106.10 and the complex level at 106.25. A breakout above these levels will lead to a reversal confirming an uptrend in (iii) of (3) towards a new medium-term level at 110.15, where I preliminarily assume the completion of wave (iii) of (3). A breach of the 104.50 support on H4 will direct the price to the D1 support at 103.15. In this case, the wave count will need to be adjusted, and if there is no breakout below 103.15, further growth is still expected, with the wave count suggesting a continuation of the uptrend until a breakout below 103.15.