US Dollar Index has managed to hit 89.72 lows today, in line with earlier discussions here. The Elliott Channel line support has been hit and we need a follow bullish reversal from here to confirm a turn higher. Potential now remains for a push towards 94.50 over the next several weeks, with bottom line around 89.20 mark. The wave structure might seen as Waves 1 and complex combination Wave 2 terminating around 90.50 and 89.70 respectively. If correct, Wave 3 most likely to resume higher from here.
Remain long against 89.20, towards 94.50
Remain long against 89.20, towards 94.50