The US Dollar Index is seen to be stalling around 96.20/30 levels at this point in time. looking to resume lower again towards 94.00 levels. Please also note that the US Dollar Index has retraced just above fibonacci 0.618 levels of the recent drop between 97.00 through 95.00 levels respectively. A bearish reaction here is anticipated with bears taking back control. Looking at the larger wave structure, the US Dollar Index seems to be unfolding into an expanded flat (A)-(B)-(C) since 97.00 highs earlier and within that, Wave (C) could be in progress at this point in time. If the above counts hold to be true, we could witness prices staying below 97.00 and 97.71 levels going forward and push towards 94.00 levels at least.
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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.