The US Dollar Index had print highs at 97.28 levels before pulling back and is now seen to be trading around 97.13 levels. Looking at the lower degree wave counts, the US Dollar seems to have waves i and ii in place at 96.00 and 97.28 levels respectively. Please note that wave ii terminated at the fibonacci 0.618 resistance level of wave i and if this holds, we could see prices dropping lower towards 95.00 and 94.00 levels, as waves iii , iv and v unfold. Also note that a larger degree expanded flat (A)-(B)-(C) seems to be unfolding and might e looking to push through at least 94.00 levels going forward. Overall, we maintain our medium term bearish outlook 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.