USD Index Cylce and USDCNH
September 29 2017
If you are paid member of our services, or watch our free charts and video updates then you know that we are still expecting another leg up on USD Index to complete bullish cycle from 2011. We think that USD index is now at some very interesting levels near 90.00, a strong support from where uptrend may resume. Well, some USD-based currency pairs will form tops or bottoms earlier than others, and potentially signals for upcoming turning point. USDCNH can be one of them; it's pair that has been in a nice uptrend since 2013; clearly in five waves followed by a three waves set-back to the area of a former wave four. We have seen a nice bounce from that region in the last three weeks which can be an important evidence for more upside. If that's the case then USD Index may also experience bullish price action by the end of the year, especially if we also consider that "corrective cycle" since 2015 may be near completion based on past two cycles that ended in 2011 and 2014.
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