USD index is currently recovering, opposed to the EURUSD where we see price dropping from the 1.1217 level, and ideally unfolding final leg c as part of a bullish ending diagonal. Here on the USD index the structure is in negative correlation, meaning that we are tracking current rise as part of one more leg within an a-b-c structure. Ideally wave c is in play, which can take price towards, and above the 98.10 level in upcoming sessions.
USD Index, 1h
USD is looking for another push higher since we noticed a bullish triangle in wave 4 on the USDCHF pair. So, watch out for a jump into a new high for wave 5 towards 1.0250 – 1.0300 target area, just have in mind it’s a 5th wave and after every five waves, a deeper three-wave pullback follows.