The US Dollar Index short term picture could still remain encouraging to bulls if prices stay above 94.40 levels. The index is probably carving an expanded flat corrective wave structure as potential Wave B. If this structure holds well, we could see prices rally back towards 95.70 levels at least or even push through 96.00 mark. The rally on Friday from 94.38 lows through 95.00 could retrace lower before resuming again. Overall the medium term wave structure (several weeks), could remain bearish towards 92.00 and 91.50 levels respectively.
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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.