Technical outlook:
The US Dollar Index daily chart has also been presented again with emphasis on the last wave (5), labeled above. Please note that the last wave 5, within the (5)th wave might have been either complete at 88.30 levels or is under process of completing by unfolding into potential diagonal structure. Until prices remain below 90.56/60 levels, the probability of printing yet another low shall remain. On the flip side, a break above 90.50/60 levels would confirm that a meaningful low is already in place and that the trend might have reversed turning higher highs and higher lows ahead. Immediate price resistance is 90.50/60 and support is at 87.00 levels respectively. A general trading plan would be to prepare to go long at lower levels.
Trading plan:
If 90.50/60 levels break, prepare to buy on dips there after.
Fundamental outlook:
EUR German Unemployment Change and Rate at 0400 AM EST. EURO Zone Consumer Price Index around 0500 AM EST. USD GDP numbers at 0830 AM EST.
Good luck!
