E USD Index Searching For A Base; A Reversal In View

USD index is still trading bearish, specifically in black wave 5 of 5). We can see the recent rally as a corrective wave 4, that found its resistance at the 96.21 level, from where a new drop occurred. That said, ideally current black wave 5 will now search for support and a low near the lower channel line, where a new bounce higher can follow. A five wave recovery from the lows and a breach above the 96.21 level would indicate a change in trend.

USD Index, 4H


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