The US Dollar Index is seen to be trading around 96.65 levels at this point in writing and it might have carved a lower high at 97.20 levels now. After testing 97.20 twice earlier, it has turned lower towards 95.00 levels at least. Please note that a break below 96.00 would confirm and accelerate push further and would be more encouraging for bears to stay in control. Looking at the higher degree wave structure again, the US Dollar Index is unfolding as a potential triangle or an expanded flat (A)-(B)-(C) wave structure, after having producing an impulse rally between 88.30 through 97.00 levels earlier. For the above structure to hold true, prices are expected to remain below 97.70 levels going forward. Overall, medium term bearish structure remains until the US Dollar Index remain below 97.70 levels.
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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.