USD Index
USD Index has turned nicely higher in October, looking like an impulsive price move which is most likely finished after this strong bearish turn from 99.10. We see it as wave A) of a three wave decline, as shown on our updated wave count. If we are correct, then we can expect more downside to around 96.00-96.50 area this month, before the price may turn bullish again.
USD Index, 4H
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Crude OIL
Crude oil is turning significantly lower, now trading beneath the trendline support connected from the 39.50 August low, which can open the door for more weakness, as the price action from the last few days is looking impulsive on the 4h chart. We see the current price in the middle of an extended red wave 3), currently with subwave four in progress which can be looking for a resistance near 46.60; there a new sell-off may follow.
Crude OIL, 4H
