The US Dollar Index daily chart is probably preparing to drop lower towards 95.00 levels. Please note that a lower high can be still carved out above 97.00 levels before it could resume its drop. Looking at the short term wave counts, a lower degree wave i and ii could be in place as labelled here and wave iii could resume any time soon. Also note that the larger picture still favors a corrective (A)-(B)-(C) wave structure to unfold as an expanded flat or a potential triangle. If it unfolds as an expanded flat, we could see prices dropping up to 94.00 levels and further. Overall, the bearish structure remains until prices stay 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.