Dollar Index at multi-year highs
The USD Index is at multi-year highs, but in fifth wave so gains can be limited, at least for the short-term. We are looking at red wave 5) that has just reached our first projected level at 91.80 as shown on the chart. That's 38.2% Fibonacci projection of wave 3) where price could slow down.
However, we see even 94.40 as a possible scenario if USD will remains strong, and will not make any five waves of decline. However, sooner or later USD should turn into a retracement, even if just for a short-term.
USD Index Daily Elliott Wave Analysis