Elliott Wave - Dollar Index

Dollar Index Elliott Wave Analysis

The dollar index moved higher in trade this week, while the euro and gold were going lower, and the pound, cad and aussie were gaining. The index traded exactly in the territory that we mentioned yesterday, the 82.60-83.00 resistance area. If this price area does not push the $ index lower then we may easily see strong dollar buying in trade on Tuesday, and this means we will probably have to rework our current red wave count from wave I-II-III, to an A-B-C move.

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