HomeContributorsTechnical AnalysisUSD Index Targeting 97.30 In A Bear Run

USD Index Targeting 97.30 In A Bear Run

After an overlapping, three-legged move within wave 5 as part of a bigger elliott wave ending diagonal on the usd index, we can see that index found resistance at the 99.37 area, and started dropping sharply. We labelled a three-wave a/i, b/ii and c/iii reversal in progress, with price now unfolding a temporary pullback in wave b/ii. That said, once a minor setback fully develops, that is when wave c/iii may take price towards, and below the 97.30 region.

USD Index, 4h

Get daily and weekly ActionForex analysis and key releases on our Telegram channel.

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Latest Analysis

Learn Forex Trading