On the 4h chart of USD Index we see price trading within a higher degree three wave decline so bearish breakdown in March may wave C as part of that big contra-trend move. In fact, we see price already in sub-wave 5 of C), a final leg of an impulse so market can be ready to turn, at least with three waves up, but ideally we will get an impulsive bullish structure. A divergence on the RSI also indicates a coming turning point. Any extensions lower can then stop near 97.70.
USD Index, 4H
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