US Dollar Index unfolded the triangle count. Support @ 92.00

Aug 18, 2020

US Dollar Index is pushing lower as a thrust wave after completing the potential triangle count around 93.41 levels. This could be seen as the final wave lower to complete an impulse from 103.00 highs. Watch out for potential support just around the 92.00 mark, going forward. Looking at the larger degree, US Dollar Index seems to be completing a classic 5-3 Elliott Wave pattern since 88.25 lows in February 2018. The rally between 88.25 and 99.67 (5 waves) has been followed by a corrective drop (expanded flat). If the above holds well, US Dollar Index should resume higher soon from near levels.

Aggressive traders remain long against 91.80/90, target is open.


Good luck!