The US Dollar Index recovered sharply on Friday, after printing lows around the 93.80 levels, slightly lower that the previous Wave 4 termination point at 94.10 levels. The rally was expected to materialize and it was just a matter of time for bulls to come into action. Looking at the structure, the US Dollar Index could be carving out a potential expanded flat corrective wave. If this is the case, we could see prices staying above 93.80 levels and pushing towards 95.70 levels going forward. Please note that we remain neutral for now and would be looking to sell higher as a safe trading strategy.
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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