The US Dollar index lost all its ground covered on Friday, and trades around 94.40 levels again at this point in writing. Please keep the bigger picture in mind for US Dollar Index which is pointing towards 91.50/92.00 levels going forward. Maybe possible that Wave C lower is progressing sooner than expected. For now, resistance stays at 95.70 levels and bears are expected to remain in control till prices stay lower. Looking at the wave counts, Wave B probably terminated at 95.70 levels but we still keep the alternate count open for a quick rally towards 96.00 levels. A safe strategy could be to remain/add 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.