US Dollar Index Alternate Count - Contracting Triangle?

19 de dez. de 2017

The US Dollar bullish story continues to remain intact for now with slight adjustment in the earlier proposed wave counts. The underlying remains into wave (3) of a higher degree with wave 1 adjusted here. Wave 2 of (3) is probably unfolding into a contracting triangle as shown here labelled as a-b-c-d-e. If this count holds true, then wave 2 might have already terminated at todays' lows and a sharp rally should come through breaking out of the triangle structure. As an alternate though a flat can be produced if prices drop below 93.40 levels. Trading point of view, remain long, stop below 92.50, targeting 95.00 and 98.00 levels.

Good luck!

Sincerely
Harsh