The US Dollar Index is seen to be trading close to 97.60 levels at this point in writing, just shy of breaking above 97.70 levels. Please note that if bulls are successful in breaking above those levels, 98.00/20 levels is the next resistance in line. Also note that 98.00/20 is the fibonacci 0.618 resistance of the entire drop between 103.80 through 88.30 levels respectively. Also please note that wave structure has to be re-labelled further if prices reach 98.20 levels going forward. Ideally it could be a zigzag structure complete, if prices manage to reach 98.20 levels and we shall be looking for a lower degree impulse drop from there on, to initiate fresh short positions. For now, we shall remain flat if 97.70 levels break and wait for next resistance.
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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.