US Dollar Index 4-hour
|Analysis: The dollar is correcting its tumble from its reaction to the Fed on Wednesday. We suspect a zig zag pattern higher to complete minor Wave (ii) is tracing out. As said, we believe a major corrective top is complete at (2)—99.37—and are looking for a long-term trend move lower in the buck.
Strategy: Looking to add to existing long positions against the dollar on any signs of a near-term reversal pattern near the 99-level.
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