US Dollar complets 5 waves drop from 103.00 ?
US Dollar Index drop from 103.00 looks complete around 91.75 levels, or might push towards another marginal low around 91.50/60, before turning higher again. A break above 93.47 would confirm that US Dollar has finally bottomed. If an expanded flat is complete, US Dollar would be reversing higher towards 103.00 and beyond. Alternately, it could lust produce a meaningful retracement (corrective wave) towards 98.00 levels and resume lower again. We shall discuss further after 93.47 is taken out. Aggressive traders might prepare to go long considering the bullish divergence on the RSI.
Long now, stop @ 91.00, target remains open
Good luck!
Long now, stop @ 91.00, target remains open
Good luck!
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