Home Elliott wave analysis: USD Index Eyeing 108.4/113.5 In Years to Come
Forex News Today: Daily Trading News

Elliott wave analysis: USD Index Eyeing 108.4/113.5 In Years to Come

Hello traders,

USD index monthly is recovering in an overlapping, seven swing movement, up from 2008, ideally unravelling a big, corrective wave B. We can see the first piece of the seven-swing move (the first A)-B)-C)) completed at a high in 2015, which was later followed by a connecting wave X). This corrective leg connects the first A)-B)-C) move with the second one, which is still in motion.

We see a possibly completed impulse in A) of the second piece at the 99.68 level, and its contra-trend wave B) correction at the lower 94.45 level. The latest rise can now be a wave C) of B underway and can target the 108.4/113.5 region in months or years to come. At the mentioned target we can expect to see a top, and a bearish reversal, below the drawn channel lines.

USD index, monthly

Trade well,

The EW-Forecast team.

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!