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Will USD Index Continue Lower, or Will it Reverse Higher?

Written Gregor Horvat | 2017-11-14 08:07:06 GMT

Today we will look at USD Index and its mid-term view.

USD Index can still be trading within a higher degree bearish impulse, with current rise labeled as a potential wave 4). If that is the case, then rally since start of September can see limited upside near the upper trendline and unfold a drop in five waves for the upcoming wave 5). But if price continues higher, and decisevely breaches above the trendline, then this would suggest a completed bearish impulse and a change in trend from bearish to bullish.

USD Index, Daily

USDIDX

 

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

Author

Gregor Horvat
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