Bullish View :
The U.S. Dollar Index should have concluded its correction of Intermediate wave (4) as a flat at 91.92. The medium-term trend has turned up now, and subsequently advance in the same degree wave (5) could have started its way up.
The advance should eventually carry index toward the 103.32 level, where the same degree waves (5) and (1) are equal (a common relationship).
There is no change in the prior short-term forecast. Euro has the same differing options for the entire correction as Intermediate wave (B), which can take as the U.S. dollar but flipped over.
The counter-trend rally in Minor wave C could be in place, to get to more complexity in its structure and last longer than it has so far.
Bearish View :
The Cable could be in the process of third-wave down of Minute-degree wave ((v)) toward the Fibo 1.618 expansion target at 1.3720.
The wave ((v)) would ultimately amount to 1.3521, before the end of Minor-degree extending wave 3.
In the U.S. Dollar’s daily chart, there are differing options that the entire correction as Intermediate wave (4) could have developed so far.
A viable possibility, one that we should respect, is that the wave (4) would remain in the late stages of an ending diagonal in its Minor-degree wave C, as a flat correction.
Short-term Uptrend :
Euro has the same differing options for the entire correction as Intermediate wave (B), which can take as the U.S. dollar but flipped over.
The rally in the week indicates that upward correction in the Minor wave C is in place yet, to get to more complexity in structure and last longer than it has so far.
Bearish View :
There is no change in the Euro’s bearish view, too.
The Minor-degree wave D would achieve the Fibo-expansion targets at 1.07885 and 1.06468, in a three-wave structure. Euro should hold under the mid-March high at 1.13423, during the entire process of decline in Minor-degree wave D.
Bullish View :
There is no change in the U.S. Index’s bullish view.
The Minor-degree wave D would achieve the Fibo 0.618 expansion target at 99.46, in a three-wave structure. (wave D = 0.618 wave B, a common relationship between the same direction waves of a triangle pattern.)
Note: The Index should hold above the mid-March low at 94.58, during the entire process of advancing in the wave D.
Bearish View :
The Cable should have concluded its upside correction in Minute-degree wave ((iv)) at 1.4514. The three straight days decline in this week indicates that the same degree wave ((v)) of Minor 3 is accelerating down.
The wave ((v)) would likely amount to 1.3521, before the end of extending wave 3.
There is no change in the forecast for Dollar/Yen. With respect to the leading expanding diagonal as Intermediate wave (A) turning the trend would be suggested well.
The diagonal pattern has potential of retracing up to a partial retracement of the decline since June high.
Bearish View :
Euro may have started to decline in the final subdivision of Minor-degree wave D down of the triangle wave (B).
The wave D would achieve the Fibo-expansion targets at 1.07885 and 1.06468, in a three-wave structure. Euro should hold under mid-March high at 1.13423, during the entire process of downtrend in Minor-degree wave D.
Elliott Chart 