The experts working for Masterforex-V Academy assume that the new starting point for the price movement shown by the US Dollar index is located at 80,650. This is the start of the new upswing represented by wave 5 or wave aC.
The movement is developing within the framework of a sloping channel. The sloping channel is built through 79.775 and 8.010. Pivot 2 is located at 80.715. Until it is stays unbroken, there is a chance to see the price forming wave bC.
A break below the pivot will indicate the end of the entire upward movement started at 79.775. Still, a downward reversal also needs a FZR.
The closest upward targets are:
81,308=88%;
81,530=FZR D2.
In order to see a downswing, the price will have to develop a bigger-scale wave with breaking below 80,715 and creating a FZR.
