The price trend of the US dollar index is still following the long-term trend of the year and remains within the plan outlined in last week’s news. The price continues to move from the small wave l1 to the small wave t1 (a corrective wave in The Second Million – Dollar – Pattern).
The wave structure from l1 to t1 will follow the a-b-c pattern, and the price has completed the a wave and is trending towards the b wave. Therefore, in the short-term, the price of US dollar index will be a slight decrease to the convergence zone of 101.2 – 101.5. This will directly impact the prices of gold and even crude oil and bitcoin.
Stay tuned for the trend of the US dollar in the next news.
Wishing all investors a successful investment week!
By. Pham Thanh Bien
