The US Dollar Index 4H chart view might be suggesting that 97.70 could be a meaningful top formed yesterday. Please note that the index could have unfolded into 5 waves from 97.70 levels, at a lower degree; and if it holds true, prices would ideally remain below 97.70 levels and push towards 95.70 levels going forward. Immediate price resistance could be seen at 97.70 while support is seen at 95.65 levels respectively. Also kindly note that if the proposed ending diagonal structure within (5) is correct, prices would stay below 98.10/15 levels. An aggressive trading strategy could be to short now, against 97.70 levels, while a more conservative trading strategy could be to remain flat until price break below 95.65 levels respectively.
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.
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.