The US Dollar Index is seen to be threatening to break above 97.20 levels at this point in writing. Please note that a break above 97.20 could trigger bullish potential to higher levels but we shall remain neutral in that case. Until prices stay below 97.20 levels, it is favored to drop lower towards 94.70 levels at least. Intermediary price resistance is seen at 97.20 levels for now, while price support is at 94.80 levels respectively. A breakout on either side is expected soon, clearing further direction of the US Dollar Index. Structurally, after a 5 wave impulse rally from 88.30 through 97.20 levels , a 3 wave corrective drop is expected lower towards 93.80 at least.
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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.