The US Dollar Index 4H chart view has been presented here to have a larger wave picture lasting for several weeks to follow (8-12). The index most likely topped at 97.20 levels yesterday, terminating Wave B of a potential expanded flat which could be unfolding. It is seen to be trading around 96.80 levels at the moment and Wave C could be on its way lower. If the above wave counts tend to hold, we could see a religious down trend, forming lower tops and lower bottoms in the next several weeks, with price potential below 93.80 and towards 92.00 levels respectively. We maintain our medium term bearish outlook against 97.20 levels for now.
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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.