Dollar Index - 4hr Timeframe - A little correction coming soon
The Dollar Index has fallen massively on it's downtrend on the weekly timeframe (wave 1), and we are expecting a strong counter trend for wave 2.
In the uncertainty of the price level at which wave 1 will be completed and wave 2 will commence, we can however be certain that, on the 4hr timeframe, also considering the growing divergence, the price level will need to correct itself to the upside a little, even if it's just for a short term and wave 1 needs more downside to be completed. Hence, expect a little upside now, then we'll see where it takes us.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
In the uncertainty of the price level at which wave 1 will be completed and wave 2 will commence, we can however be certain that, on the 4hr timeframe, also considering the growing divergence, the price level will need to correct itself to the upside a little, even if it's just for a short term and wave 1 needs more downside to be completed. Hence, expect a little upside now, then we'll see where it takes us.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.