DXY – Monthly C-Wave Driving into Quarterly CongestionU.S. Dollar Currency IndexTVC:DXYJordanMTWhere is price? Price is trading in a monthly C-wave above the ETOP, with the current bar set to close outside the envelope—confirming active energy. On the quarterly, price sits just below ETOP in congestion entrance, while the yearly is in congestion action. What is doing the work? The monthly timeframe is in control, with the PL Dot actively pushing price higher. Dot distance is opening up, confirming continuation energy rather than exhaust. What is it doing? The market is transitioning from: Yearly trend down → congestion action Quarterly trend down → congestion entrance Monthly → late-stage C-wave up Quarterly structure shows a 5-2 down holding, acting as nearby resistance, while price compresses just below the quarterly ETOP. At the same time, monthly PL Dot support has been tested and held, confirming strength underneath. Flow & Structure Monthly flow remains excellent: Closes near highs Clean progression through the matrix No signs of energy loss yet This suggests continued pressure into higher timeframe resistance. Targets Primary target sits at 103.5, aligning with: Yearly PL Dot Quarterly exhaust zone This is a likely profit-taking / distribution area, not necessarily immediate continuation. Expected Sequence Monthly C-wave continues higher Quarterly develops congestion action Test into 103.5 (HTP resistance) Then reassess for either distribution or breakout depending on flow Invalidation (No Pattern) Quarterly ETOP holds firmly Price breaks and closes below the quarterly PL Dot Flow shifts from strength into resistance → strength into support This would signal failure of the C-wave continuation and deeper rotation. Summary With monthly driving a strong C-wave and quarterly shifting into congestion, the path of least resistance remains higher toward 103.5, as long as monthly PL Dot support continues to hold.