Bullish Reversal In Play For USD Index
After recent sharp move down from 99.87 we need to be aware of a bullish turning point ahead as decline from the start of the month to 95.26 has unfolded in five waves. We know that after every five waves market will move into the opposite direction with minimum three waves back into the area of a former wave four or even higher. In our case the termination point of wave four comes in at 97.50 so we will look towards this level in days ahead. At the same time EUR/USD could fall further towards 1.1000.
USD Index, 4H
USD Index 4-Hour Chart