Home Forex Analysis And Forecasts USD Index Elliott Wave Analysis: Correction Within Uptrend

USD Index Elliott Wave Analysis: Correction Within Uptrend

USD Index moved lower that we thought this week, but despite a new leg down this does not mean that market has turned bearish. Notice that decline from the high is in three waves, which is a structure of a corrective move. It can be wave 4 that can be looking for a base near 93.30; at the lower side of a current downward channel. As such, traders must be aware of a new leg higher, possibly even towards 97, but only if the upper side of a corrective channel will be taken out.
USD Index 4h Elliott Wave Analysis

usd index elliott wave

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