USD Index looking weak

The USD Index is trading nicely to the downside, unfolding a big bearish impulse, which we see it as Black Wave 1. That said, we can see sub-wave: one, two, three and four completed, meaning current intraday drop can be in final sub-wave five of 1. This Blue Wave v can reach levels near the 92.75/80 region, and from there make a new three-wave reversal higher. This three-wave rally would later be regarded as the following Wave 2.

USD Index, 1 hour

www.ew-forecast.com

@ewforecast

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