• 12 hours Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 12 hours Global Corporate Debt Soars To $9 Trillion
  • 14 hours The Fed’s Slippery Slope
  • 16 hours Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 17 hours Tesla Faces $20 Billion In Short Interest
  • 18 hours China's Economic Recovery Remains Tepid
  • 20 hours Silver Inches Closer To $20
  • 21 hours The Secret Life Of Lithium
  • 1 day The Pandemic Proof $53 Billion Industry Wall Street Can’t Ignore
  • 2 days Will Gold Hit $2,000?
  • 2 days Trump’s Proposed Regulation Could Slow The ESG Boom
  • 3 days India To Auction 41 Coal Assets
  • 3 days Eldorado Sees Gold Production Soar In Second Quarte
  • 4 days Do Gold Stocks Still Have Upside Potential?
  • 5 days The S&P 500’s Top Companies Hold $2.5 Trillion In Debt
  • 5 days Electric Vehicle Rebound Bolsters Battery Metal Growth
  • 6 days BlackRock Makes A Run On Asian Stocks
  • 6 days Gold Prices Surge Above $1,800
  • 7 days Chinese Stocks Soar On Bullish Economic Data
  • 7 days Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliot Wave Forecast - 07/07

Short term USDX (USD Index) Elliott Wave view suggests the rally to 97.88 high on 6/20 ended Intermediate wave (X). Decline from there is unfolding as an impulse Elliott Wave structure with extension and ended at 95.47 low on 6/29.  This 5 wave move could be Minor wave A of an Elliott wave zigzag structure, where Minute wave ((i)) ended at 97.17 and Minute wave ((ii)) ended at 97.47. Minute wave ((iii)) ended at 96.15, Minute wave ((iv)) at 96.61 and Minute wave ((v)) of A ended at 95.47.

Revised view calls for Minor wave B bounce completed at 96.52. For this view, a break below Minor wave A at 95.47 will add more validity. Until then, a double correction in Minor wave B can’t be completely ruled out. The subdivision of Minor wave B is unfolding as an Elliott wave double three structure. Minute wave ((w)) ended at 96.24, Minute wave ((x)) ended at 96.04 and Minute wave ((y)) of B ended at 96.52. Near term, while bounces stay below Minor wave B at 96.52, expect the Index to resume lower. We don’t like buying the Index.

USDX 1 Hour Elliott Wave Chart


Back to homepage

Leave a comment

Leave a comment