According to trading experts working for Masterforex-V Academy, the current situation in the market of the US Dollar index looks as follows:
There is a bearish momentum represented by wave a (C ) of level h8 inside a(c ) of level D2. The starting point of the bearish move is located at 80,810. The end of the wave is 79.505. The two levels can be used to build a correction Fibo grid.
There is an inside sloping channel built through 82.670 and 80.810. Until the sloping channel is reached, there is a chance to see wave b(C ) of level h8.
The upward targets are:
80.004 - 38.2% а(С)/С Н8
80.157 - 50% а(С)/С Н8
80.311 - 61.8% а(С)/С Н8
When the SC is broken, the price will need a recovery followed by another downswing in order to resume the bigger-scale downswing. A full-grown FZR will confirm that.
The downward targets are:
79.322 - 111.8% а(С) D2
79.197 - 123.6% а(С) Н8
79.006 - 138.2% а(С) Н8
78.968 - 123.6% а(С) D2
78.865 - 50% А Monthly
