The US Dollar Index hit lower at 95.16 levels yesterday before pulling back. It is seen to be trading close to 95.60 levels for now and could continue higher towards 96.00 levels at least before reversing again. Please note that a counter trend rally was looking to be due after the thrust move between 95.98 to 95.20 levels earlier. Looking into the short term wave structure, an impulse drop seems complete from 96.68 to 95.16 levels respectively; and a probable counter trend rally could be underway now. This could be a temporary relief to bulls, before bears take back control around 96.00 levels. The larger wave structure remains unchanged for now with the expanded flat unfolding into its last leg Wave (C) lower towards 94.00 levels, going forward.
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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.