The US Dollar might have placed a meaningful top at 96.12 levels yesterday, before reversing sharply lower. It is too early to begin wave counts but at a lower degree, potential waves i and ii could be in place (not shown). If the short term structure stays, we could see a sharp decline from current levels towards 94.94 and further. Looking at the medium wave structure, the bearish outlook could still remain intact and prices are expected to drop towards 92.00 and 91.50 levels respectively. Also note that the index has responded at the fibonacci 0.618 resistance around 96.00 levels hence bearish resumption probabilities remain 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.