The US Dollar Index short term chart might be indicating a dip lower towards 94.70 levels as short term target. Looking at the medium term wave counts, we still remain optimistic of a possibility of an expanded flat A-B-C as shown on chart here. If price action favors the above count, we could see prices dropping lower towards 93.80 at least and also push further towards 92.50 going forward. The short term wave structure is indicating that a lower top may be in place at 96.70 levels and ideally prices should stay lower. It could be a safe trading strategy to remain short with potential risk/stop above 97.20 and soft target around 94.70 levels for now.
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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.