US Dollar Index carving a complex corrective Wave B?
The US Dollar Index hourly chart continues to consolidate between 94.40 and 95.60 levels for now. The index is trading around 94.90 levels at this point in writing and could drop to 94.75/80 during intraday, before turning higher again. Please note that structurally, the US Dollar Index would require to break below 94.80 and 94.40 levels to confirm that a meaningful top is in place at 95.70. Looking at the wave count, the US Dollar Index might be still carving out a more complex Wave B than expected earlier. Please do not be surprised if the index produces a snap rally towards 95.70/96.00 one last time before giving in to bears.
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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.