US Dollar Index: 96.16 remains critical for bears to stay!

23 oct. 2018

The US Dollar Index has been attempting a break above 96.16 levels and it could be vulnerable towards the same. At this point in time, we remain cautiously optimistic for a bearish resumption since 96.16 levels remain intact. If bears could manage to hold 96.16 levels going forward, we could witness a iii of 3rd wave lower, within the proposed 5 waves of Wave C towards at least 93.80. On the flip side, a break above 96.16 could suggest that the US Dollar Index could run up to 96.50/60 levels before facing resistance and delay the proposed drop for now. Overall, 96.16 remain the line in sand for bears to remain in control.


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.