Good day traders! Let’s look at USD Index.
USD Index is making a new sharp decline away from 94.30 region, where bigger degree wave 5 was completed. We now see a five-wave fall in play with price trading at the start of a corrective wave. Ideally blue wave four will rise for a three-wave move and later search for resistance and a new turning point lower around the Fibonacci ratio of 38.2 or 50.0. From there a new drop lower, into wave five may come in play.
USD Index, 1H
