The US Dollar Index
has managed to squeeze a few points above 96.68 levels as seen here but it still remains vulnerable until prices remain below 97.71 levels. The overall structure since December 14, 2018 highs at 97.71 levels seems to have produced a complex corrective structure, probable a combination w-x-y
not labelled here. Furthermore, the US Dollar Index
is hitting fibonacci 0.618 resistance of the drop between 97.71 and 95.20 levels at this moment. A bearish
reversal here could set the track for upcoming move lower towards 94.00 levels at least. Also note that the higher degree wave structure remains unchanged for now with a probable expanded flat unfolding since 97.00 highs on August 15, 2018. Overall bearish
bias remains until prices trade below 97.71 levels.
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.