US Dollar Index turns bearish from 96.16

11 oct. 2018

The US Dollar Index bears seem to be in control since recent highs at 96.16 levels, the fibonacci 0.618 resistance of the earlier drop as shown here. The index seems to be on its way towards at least 95.00 levels, before pulling back or retracing. Looking into the wave structure, the index seems to have in place Waves A and B already, with Wave B terminating at 96.16 levels earlier this week. Please note that 96.16 should be acting as resistance now, and all intraday/pullback rallies could remain well capped below 96.16 going forward.


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