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US Dollar Index Wave C in progress. 94.70 in sight

TVC:DXY   U.S. Dollar Currency Index
The US Dollar Index             continues its bearish outlook for now, as presented on the 4H chart here. Looking again into the wave structure, it remains intact with probabilities of a flat A-B-C formation. Wave B most probably terminated at 97.20 levels last week and Wave C cold be underway now, towards 94.70 and 93.80 levels, going forward. Please note that prices should stay below 96.70 levels, for the above structure to remain intact. Looks like a 3rd of 3rd wave could resume lower any moment and push prices towards 94.70 levels, before producing a pullback. We could see a pretty swift drop, till prices stay below 96.70 from here on. Overall, we maintain our bearish outlook in the medium term.


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