HomeContributorsTechnical AnalysisWill USD Index Continue Lower, or Will it Reverse Higher?

Will USD Index Continue Lower, or Will it Reverse Higher?

Elliott Wave Financial Service
By Elliott Wave Financial Service

Good day traders. Hope everybody is having a splendid day.

Today we will look at USD Index and its mid-term view.

USD Index can still be trading within a higher degree bearish impulse, with current rise labeled as a potential wave 4). If that is the case, then rally since start of September can see limited upside near the upper trendline and unfold a drop in five waves for the upcoming wave 5). But if price continues higher, and decisevely breaches above the trendline, then this would suggest a completed bearish impulse and a change in trend from bearish to bullish.

USD Index, Daily

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Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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