Post Tagged with: "Dollar Index Elliott Wave Analysis"

Inverse H&S On USD Index Suggests More Weakness On EURUSD

Markets gapped on Sunday against the USD after the U.S. President Barack Obama delayed a military strike against Syria by requesting authorization from an incredulous Congress.  From a technical perspective the wave patterns and direction did not change much.

We are bullish on USD. This means we expect weakness on the majors, such as EUR, GBP, CHF, AUD and even JPY. The reason is the following Inverse Head and Shoulders pattern on the USD Index 4-hour chart which already appears complete after a push above the neckline at the end of the last week.

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Technical Overview: Dollar On The Rise

Technical Overview: Dollar On The Rise

The US dollar gains accelerated through Asia session after RBA cut interest rate to 4.5%. Dollar index trades higher impulsively, so from technical perspective turning point is confirmed, especially as Euro fell well below 1.3800 swing zone. In fact, dollar index made 3-waves down from October 4ht, so further gains are definitely in view now [&hellip

The Greek Plan Sets-Up New Bearish Leg For Dollar

The Greek Plan Sets-Up New Bearish Leg For Dollar

The plan for Greece is sending markets higher across the board, with Nikkei up more than 1.2%, Hang Seng Index +1.7% and China 0.18%, following the pattern form Wall Street. We see the similar situation on European markets that just opened and are already more than 0.5% in the green. FX market was mostly consolidating [&hellip