US Dollar Index completes 5 waves rally from 92.15
US Dollar Index seems to have completed its first impulse rally from 92.15 lows. The index has taken out 93.40 initial resistance, also previous Wave 4/triangle termination. The rally has been labelled as Wave 1 on the hourly chart here. Ideally a corrective drop should materialize towards 92.50/60, potential Wave 2 termination. If the above is correct, we can expect a Wave 3 rally to push prices towards 98.00 levels, going forward.
Hold on to long positions, stop @ 92.10, target is open.
Good luck!
Hold on to long positions, stop @ 92.10, target is open.
Good luck!
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