The hourly chart for US Dollar Index is suggesting that the index could have formed a major top at 97.20 levels last week and could be accelerating lower towards 94.70 and further. Looking into lower degree wave counts, wave i and potential wave ii seem to be in place at 96.00 and 96.60 levels respectively. Please note that wave ii could print slightly higher than 96.60 as shown here. Ideally, prices should remain below 97.20 resistance, and accelerate lower towards 94.70 and beyond. Please note that US Dollar Index is possibly unfolding into an expanded flat wave structure and medium term outlook remains bearish for now.
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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.