The US Dollar Index is seen to be trading around 95.00 levels at this moment in writing, and it could drop lower close to 94.80 levels at least before producing a meaningful correction. With the above scenario in place, one can safely assume that 95.70/75 could be a meaningful top formed and the index could continue lower in 5 waves (Wave C). With a potential zigzag structure underway, we could expect prices to push through 92.00 levels while Wave C is in progress. On the other side, a push above 95.70 levels would only delay the drop anticipated here. Overall structure would still remain the same as discussed here.
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.
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.