Good day traders! Hope everybody is doing great. Today’s focus is on USD Index, its 4h and mid-term view.
USD Index has turned down sharply this week and formed a decisive break out of a corrective channel which is an important indication of a completed A)-B)-C) advance from September low. We see that as wave four as shown on a daily chart, so based on current breakdown we think that bears can be back and ideally in first stages of a big fifth wave down. That said, be aware of more weakness and keep an eye on intraday rallies that can be corrective while market is below 95.15
USD Index, 4H
USD Index, Daily
