US Dollar Index lower top seems to be in place at 96.70

6. Nov. 2018

There is no change from what was discussed yesterday in the US Dollar Index. A potential lower top could be in place at 96.70 levels for now and prices could reverse quite sharply from here. Looking at the short term wave structure, a lower degree wave i and ii seem to be now in place as labelled on charts. Please note that a complex corrective structure might still push prices above 96.70 levels, but ideally should remain capped below 97.20 levels. The waves are taking time to unfold but if the above structure holds true, we could see prices dropping lower sharply towards 94.70 levels as wave iii unfolds. Overall, we remain bearish until prices stay below 97.20 levels, going forward.


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