US Dollar Index might retrace lower up to 91.10
US Dollar Index has carved Waves 1, 2 and potential 3 higher around 91.00, 89.70 and 93.45 levels respectively. If the preferred counts are correct, a potential Wave 4 could be underway towards 92.00, which is fibonacci 0.382 of Wave 3 as projected here. Alternately, if Wave 3 is extending, the corrective drop might reach 91.10 before turning bullish again. Either way, US Dollar Index is expected to produce a corrective wave lower, before resuming its trend higher.
Remain long against 89.20, towards 94.50
Remain long against 89.20, towards 94.50
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.