US Dollar Index completes 5 waves rally from 92.15

21 באוג׳ 2020

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!