The US Dollar has moved swiftly to 95.00 levels, after reversing from 95.70 earlier, and as expected. A probable wave count from here could be that Waves A (terminated at 94.40) and Wave B (terminated at 95.70/75) are complete and that Wave C lower has resumed. Until prices remain below 95.70/75 levels, it is safe to assume that Wave C could be progressing. If this count is valid, the US Dollar Index may drop down to 92.00 levels and further lower as Wave C unfolds. A push above 95.70 would delay matters further for the anticipated drop. Overall a safe trading strategy could be to hold on the short side.
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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.