US Dollar Index Hourly Chart Update

Here are the 2 scenarios I believe are most likely for the USDX.

There is a distinct 5 wave (impulsive) move up as shown in the charts. That implies that the move is most likely either the beginning of the next leg up, or a C leg of a corrective pattern. My charts for the USD/CHF pair are almost identical to these also. There is also the chance that these pairs are forming a triangle (see today's USD/CHF post).