• 3 days Microsoft Beats Estimates as Earnings Season Heats Up
  • 3 days NFT Craze Could Get Bigger with Youtube
  • 4 days Crypto Pain Continues as Bitcoin Hits 6-Month Low
  • 7 days Earnings Season Might Bring Relief to Battered Tech Sector
  • 9 days Banking Stocks Could Be Set For Another Bumper Year
  • 10 days Crypto Mining Migration Continues As Bans Line Up
  • 11 days The Meme Stock Craze Could Lose Out to Crypto
  • 14 days Banking Sector Booming As Stock Market Lags
  • 15 days Has Bitcoin Stopped Bleeding? Some Analysts Seem To Think So
  • 16 days Amazon ‘Competitor’ Charged With Crypto Fraud Scheme
  • 16 days As Competition Heats Up, Cable TV Mega-Merger Revived
  • 17 days China’s Road To Tech Independence
  • 22 days 3 Major Bearish Catalysts For The U.S. Economy In 2022
  • 24 days VR Industry Boomed During Holiday Season
  • 24 days 3 Global eCommerce Brands Have Overtaken Amazon
  • 25 days Another Banner Year for Billionaires
  • 30 days Top 3 Predictions For Bitcoin In The New Year
  • 31 days China Moves To Tighten Rules For Companies Looking To List Abroad
  • 32 days Fake Reviews Go All The Way To The Top
  • 39 days Airlines Want The Government To Ditch Emergency Testing For Covid-19
Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: USD Index Making A Temporary Reversal

On the updated chart of USD Index, we can see price sharply reversing and making a strong intra-day drop. This drop we see as the final piece of a three-wave correction, wave c. On that note, current wave c may see limited downside around the region of former swing lows and highs of minor waves i) and ii). Recovery may also come in play around the 50.0 or 61.8 Fibonacci ratio. So currently price is bearish and will stay so, if it doesn't breach the bullish region at the 99.68 level.

USD Index, 30Min

USD Index 30-Minute Chart

 


Visit our website and Get more charts and forecasts with free access through 14-Day Trial Offer
You can also follow us on twitter @ewforecast
www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment