In my last report I suggested shorting the Dollar Index when it was trading around 93.79, ever since then the Dollar Index has been in a continuous down fall making a low for Wave a around 92.80 and moving up for Wave b as a Flat correction till the 61.8% retracement of Wave a.
As of now this market is again offering a good shorting opportunity with a small risk for Wave c down, also the reversal pattern has formed right at the 61.8% retracement giving even more confidence.
Dollar Index shorting opportunity
SL : 93.75 (Wave b high)
Target 1: 92.83
Target 2 : 92.27 (Wave a = Wave c)
Also since the Target 2 is in the 50-61.8% retracement region of Wave (1) it is quite likely that the same would be achieved if this analysis turns out to be correct.
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