The US Dollar Index continues its bearish outlook for now, as presented on the 4H chart here. Looking again into the wave structure, it remains intact with probabilities of a flat A-B-C formation. Wave B most probably terminated at 97.20 levels last week and Wave C cold be underway now, towards 94.70 and 93.80 levels, going forward. Please note that prices should stay below 96.70 levels, for the above structure to remain intact. Looks like a 3rd of 3rd wave could resume lower any moment and push prices towards 94.70 levels, before producing a pullback. We could see a pretty swift drop, till prices stay below 96.70 from here on. Overall, we maintain our bearish outlook in the medium term.
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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.