The US Dollar Index hourly chart could be suggesting that a meaningful top might be in place at 96.20 levels. Also it should be noted that prices reversed from around the fibonacci 0.618 resistance of the previous drop as shown on the chart view here. It could be safe to assume that US Dollar Index has resumed lower towards 94.90, followed by 93.80 and 92.00 levels going forward. If this wave structure stays, the US Dollar Index medium term bearish outlook would remain intact. As an alternate count, the index could possibly test above 96.20 levels one last time, before giving in to the bears.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.