The is about to complete and we are looking at a Trend Reversal, as the Cycle for Minor Wave 4 (black) is coming to an end, with Minute WXY (red) completing its Double .
Minute X (red) unfolded as a Double , as per our Swing Trade previously posted for the Dollar-Index ( DXY ).
Minute Y (red) Double break-down:
Minuette (a) (turquoise) unfolded its Swing towards the Neckline that we previously mentioned in our FED Rate Decision YouTube Video.
Minuette (b) (turquoise) reversed at the Neckline, as per our previously posted FED Retracement Wave.
Minuette (c) (turquoise) unfolded with a 5 Wave Structure and is about to complete its last leg (Sub-Minuette V (red)) and complete the entire Corrective Structure of Minor 4 (black).
In our labeled chart Sub-Minuette V (red) is completing Minuette (c) (turquoise) which in turn is completing Minute Y (red), therefore, Minor 4 (black) is complete as well, leaving room for the Minor 5 (black) to start its Cycle.
Minuette (c) (turquoise):
Sub-Minuette iii (red) was confirmed at and near the 150-161.8% Fibonacci Extensions of Sub-Minuette i & ii (red) which in turn confirms the extension.
Sub-Minuette iv (red) retraced 38.2% of Sub-Minuette iii (red), with the Micro (blue) .
Sub-Minuette v (red), and the main focus at this time, is expected to end around 98.00 Levels, which are also the 100% Fibonacci Extensions of Minuette (a) & (b) (turquoise) and 61.8% Fibonacci Extensions of Sub-Minuette iii & iv (red).
The end of Sub-Minuette v (red) would be confirmed by the up-coming around the 98.00 Levels.
The Dollar-Index ( DXY ) Reversal will be quite significant in our view because this would mean that the USD would start a New Wave for a few months.
This would also trigger the continuation of the Forex Pairs Cycles and our focus will turn towards views on EUR/USD & GBP/USD .
Many pips ahead!
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