The US Dollar Index was seen accelerating into its final corrective leg, within the expanded flat and has made an interim high close to 95.40 levels on Friday. Looking into the wave structure, the index could find resistance around 95.50 or it could push through 96.00 levels before resuming lower again. The expanded flat structure could be a traders nightmare if not identified at the right time. We have now changed our trading strategy from neutral to short, until prices remain below 97.00 levels going further. Please note that the medium term wave structure remains unchanged and the US Dollar Index could drop towards 91.50 levels, going forward.
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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.