Elliott wave Analysis: USD Index Can See A Low near 87-86 Area
Elliott wave Analysis: USD Index Can See A Low near 87-86 Area
Daily chart of USD Index shows us a five-wave bearish impulse in the making within higher degree wave C of IV, with minor wave 5) leading the way. Ideally a five-wave drop for wave 5) of C will take price lower, towards the 87-86 region where we will look for evidences of a turn.
USD Index, Daily
Regarding the 4h chart, we see USD index turning down from 90.94 area where we were looking for a top formation of a wave 4 bounce which now shows evidences of a top after that nice sell-off to 89.38 which suggests that bears are not over yet. Ideally wave 5 is now in progress to a new low.
USD Index, 4H
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