Post Tagged with: "US Dollar Index Elliott Wave Analysis"

USD Index waiting for the big breakout – Elliott Wave Analysis

The FOMC Meeting Minutes are published today, so it will be very interesting to see what they have to say after the very bad NFP data on Friday. As the meeting was held before the data had become known, the minutes could sound hawkish and be bullish for the buck.

I am a fully technical trader, so I trust only charts and price action. On the USD Index we are looking for the price which is in the middle of a triangle, so both scenarios are still possible. I however favor a bullish one, which shows a completed fourth wave, but we need to see break above 99 level to confirm this view.

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USD has room for more gains against EUR and GBP: Elliott Wave Analysis

USD has room for more gains against EUR and GBP: Elliott Wave Analysis

The USD is rallying this morning on Draghi’s comments. The ECB president says that they will seek to raise inflation as fast as possible, that the economic situation remains difficult and that a stronger recovery is unlikely in coming months. EURUSD is down, currently around 1.2460 as USD Index turns up towards 88.00. Based on [&hellip

Swings For USD Index – Elliott Wave Analysis

Swings For USD Index – Elliott Wave Analysis

Well, the FX markets are slow at the moment, despite some strong sell-off in equities in the last 24-48 hours. It seems that FX traders are awaiting the FOMC meeting minutes and Draghi’s who will give a speech later today at 18:30GMT, just 30 minutes after the FOMC. USD pairs will move, that’s for sure, [&hellip

Keep an eye on EURUSD for shorts after the breakout on the USD Index

Keep an eye on EURUSD for shorts after the breakout on the USD Index

The USD reversed strongly to the upside last week, with price on USD Index breaking out of a downward channel. This would be an important sign for a change in trend, even if just temporary. For the next few days, maybe even weeks we will be tracking a minimum three wave rally up on the [&hellip

US Dollar Index could turn lower – Elliott Wave Analysis

US Dollar Index could turn lower – Elliott Wave Analysis

A few days back we published an article where we highlighted that we anticipate a rally on the USD index in a minimum of three waves back to 80.73. In the next video we will look at some evidence and reasons why we turned bullish on the USD, and where prices could go from here. More [&hellip

USD Index Could Make A Corrective Bounce – Elliott Wave Analysis

USD Index Could Make A Corrective Bounce – Elliott Wave Analysis

On Friday we mentioned to our members that a downside risk on the USD Index is limited. Thiswhich has proved correct as prices are already recovering from latest low. In fact, the recovery is not a surprise after five waves of decline, bullish RSI divergence plus an ending diagonal placed in wave (v). These are [&hellip

USD Index: Corrective Pull-back To 83.30/83.50 Within Larger Uptrend (Elliott Wave Analysis)

USD Index: Corrective Pull-back To 83.30/83.50 Within Larger Uptrend (Elliott Wave Analysis)

The US Dollar index is trading lower from recent highs, and this now appears to be the start of a deeper corrective retracement. We are tracking a wave 4) pull-back now as we can already count a completed five sub-waves in red wave 3). As such, the current bearish waves are only temporary and should [&hellip

USD Index Is Forming A Bullish Reversal Pattern-Elliott Wave Forecast

USD Index Is Forming A Bullish Reversal Pattern-Elliott Wave Forecast

USD-index reversed nicely higher last week from the 81.32 level, which appears to be a first impulsive structure that is part of a larger and new bullish cycle for the USD. As such, we expect much higher levels on USD-index in days and weeks ahead especially if we consider that decline from 83.50 was made [&hellip

EUR Could Enjoy USD Index Weakness (Elliott Wave Analysis)

EUR Could Enjoy USD Index Weakness (Elliott Wave Analysis)

EURUSD broke higher last week as expected and closed above the important 1.3400 resistance level after a nice pull-back down to 1.3250. The current break is just another confirmation of our bullish view for an impulsive wave 3) rise in wave (C). As such, we expect even higher levels now towards the 1.3640/1.3700 next week while [&hellip

Bearish Triangle on US Dollar Index – Elliott Wave Analysis

Bearish Triangle on US Dollar Index – Elliott Wave Analysis

One week ago, we discussed two possibilities regarding the US Dollar Index in wave (B) position: we mentioned a flat and a triangle pattern. It seems that the triangle appears to be the case now after seeing a three wave rise from 79 to the 80.90 level. Triangles are five wave patterns, so be aware of [&hellip