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USD Index Looks For Support, EURUSD Near Resistance :

The Dollar Index is falling very sharply this week, which we see as an impulsive leg down from 98.40. But despite the strong decline we see the index in the final stages of a corrective move. We are tracking an expanded flat from July 21st that can be near completion. However, another leg down to around 95.70 could follow to make wave v) in (c), before the price will turn sharply to the upside.  

USD Index 1h Elliott Wave Analysis  

dxy Elliott Wave Analysis August 13 2015 technical chart for currency trading forex

At the same time we are looking at wave four on EURUSD which could rally up to 1.2230/50 today and completes wave C at 138.2% extension of wave B.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis August 13 2015 technical chart for currency trading forex

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!