Elliott wave Analysis: USD Index, EURUSD and USDJPY Intra-day View
We are looking at USD Index, EURUSD and USDJPY and what we see is a quite big retracement, but we may still see a reversal, which means that USD may drop hard, if we consider this nicely connected »corrective« channel on USD index and EURUSD. Also, we see a pretty nice support for EURUSD and at the same time USDJPY can be trading at resistance. But, as said, it was quite a big retracement, so we need a sharp and impulsive reversal to confirm our view. However, be careful at this stage, especially ahead of Powell speech.
USD index, 30Min
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
Find more: Contributing Authors