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US Dollar Index could pullback up to 96.30 before drop resumesThe US Dollar Index managed to print yet another intraday low at 95.64 levels yesterday and continues to remain under the control of bears for now. The lower degree wave counts (1 hour) are suggesting that an impulse (5 waves) drop could be complete from 96.68 through 95.64 levels. We could witness a 3 wave corrective rally towards 96.30 levels which could take 1-2 days to terminate, before the drop resumes further. Looking at the higher degree counts, a Wave (C) lower is on its way against highs at 97.71 levels print during around mid December 2018. If the above counts hold true, bears could push prices lower towards 94.00 levels at least and also up to 92.00 levels going further. Ideally, the US Dollar Index should remain below 96.68 levels from 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.
TVC:DXYShort
by FXTM
US Dollar Index proceeds lower towards 94.00 levels?The US Dollar Index is finally seen to be giving in to bears after consolidating for several trading sessions. It is seen to be trading around 95.12 levels for now after printing intraday lows at 95.03. Please note that immediate price resistance on the daily chart is now at 97.00, while support is seen at 94.87 levels respectively. Looking at the wave structure at a higher degree, the US Dollar Index is probably unfolding into an expanded flat (A)-(B)-(C), after having rallied from 88.30 to 97.00 levels in 5 waves. If the above structure holds, the index could continue dropping lower towards 94.00 levels at least. As an alternate though, if a triangle is unfolding, support should come around the current price action close to 95.00. We had initiated short positions from 97.10 levels again and risk can be reduced to those levels for now. 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.
TVC:DXYShort
by FXTM
97.00 resistance should hold in US Dollar IndexThe US Dollar Index could be into potential Wave 3, with a higher degree Wave (C) structure since 97.71 highs. If the above structure should hold true, we should see prices staying below 97.00/10 levels and drop lower at least towards 94.00 or 93.65 levels, going forward. The higher degree wave structure is also suggesting that after having rallied 5 waves from 88.30 through 97.00 levels, the US Dollar Index is most probably producing an expanded flat (A)-(B)-(C) corrective wave structure. Furthermore, Waves (A) and (B) seems to have already terminated at sub 94.00 and 97.71 levels respectively. If the above structure holds, Wave (C) could continue pushing lower towards at least 94.00 levels, if not further. 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 sam
TVC:DXYShort
by FXTM
US Dollar Index may re-test 97.00 levels before resuming lowerThe US Dollar Index managed to test recent swing lows at 95.65 levels yesterday before pulling back. It is seen to be trading close to 96.00 levels for now and looking at the short term wave structure, it could produce a complex correction, rallying towards 97.00 levels before resuming lower again. The higher degree structure remains unchanged with resistance at 97.71 levels intact for now and the US Dollar Index looking poised to produce Wave (C) of a potential expanded flat or much lower. In either case, the index should be poised to drop below 93.65 levels at least, going forward. It remain to be seen whether the short term structure produces a surprise rally to re-test 97.00 levels or not. Overall bearish momentum prevails until prices remain below 97.71 levels. 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.
TVC:DXYShort
by FXTM
US Dollar Index remains bearish against 97.71 levelsThe US Dollar Index might produce surprise intraday rally but that should be considered as opportunities to go short again. The index might have carved a lower high at 97.00 levels on Friday and ideally prices may remain below that, going forward. At the moment, it is seen to be trading around 96.00 levels and is expected to be capped below 97.00 in case of an intraday pullback rally. Looking into the higher degree wave counts, the US Dollar Index is either producing a corrective expanded flat (A)-(B)-(C) lower or a 5 wave drop. In either case, it is expected to reach at least towards 94.00 levels; and hence selling on rallies remains a favored trading strategy for now. 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.
TVC:DXYShort
by FXTM
US Dollar Index takes out support at 95.68 levelsThe US Dollar Index dropped to 96.65 levels yesterday while action was lacking in the currency segment. The index has now taken out initial price support at 95.65 levels and is pulling back higher, trading back higher towards 96.20 levels. The presented wave counts are indicating that the US Dollar Index could be preparing to drop lower towards 94.00 levels unfolding as an expanded flat or resume its down trend. Both the potential counts have been labelled here as (A)-(B)-(C) and alternate (A)-(B)-(C) respectively. It could be noted that in either way, the US Dollar Index remains poised to push lower towards 94.00 levels at least. Immediate price resistance is seen at 97.10 levels while support is below 95.00 levels respectively. 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.
TVC:DXYShort
by FXTM