The US Dollar Index could be into potential Wave 3, with a higher degree Wave (C) structure since 97.71 highs. If the above structure should hold true, we should see prices staying below 97.00/10 levels and drop lower at least towards 94.00 or 93.65 levels, going forward. The higher degree wave structure is also suggesting that after having rallied 5 waves from 88.30 through 97.00 levels, the US Dollar Index is most probably producing an expanded flat (A)-(B)-(C) corrective wave structure. Furthermore, Waves (A) and (B) seems to have already terminated at sub 94.00 and 97.71 levels respectively. If the above structure holds, Wave (C) could continue pushing lower towards at least 94.00 levels, if not further.
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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 sam