The daily chart view for US Dollar Index has been presented here with alternate wave counts since 88.30 through 97.70 levels respectively. It could be possible that 3rd of 3rd wave was an extension and that brings us to a possible wave (3) termination at 97.00 levels. Wave (4) potential termination point was 93.80 followed by wave (5), which probably ended into an ending diagonal structure, unfolding into 5 waves, labelled here. If the above wave structure holds to be true, prices should remain below 98.18 levels going forward. Furthermore, prices should break below 95.65 levels to confirm a top in place. We remain neutral for now and await for a bearish reversal signal from current levels to turn bearish again.
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.
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.