The US Dollar Index is also consolidating within the rectangle region highlighted on chart here. Looking at the wave structure, Wave B could be still unfolding as an expanded flat a-b-c, before Wave C decline could resume. If this count holds true, we could witness a sharp rally towards 95.70 or probably 96.00 levels as Wave B termination point. Also note that a break above 95.00 levels would instill further confidence for the above count. As an alternate though, a break below 94.00/20 consistently, would be further bearish for the US Dollar Index. Overall bearish structure remains intact towards potential 91.50 and 92.00 levels going forward.
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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.