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Elliott Wave Analysis: USD Index Update

Elliott Wave Financial Service
By Elliott Wave Financial Service

USD Index is slowly turning to the downside, away from 96.98 level which is a sign that wave 3 found a top and corrective wave 4 is in play. As such we see current overlapping decline as sub-wave a of 4, which can once completed push price into a new temporary pullback for sub-wave b. Support for the whole correction can be around the Fibonacci ratio of 38.2, and near the 96.13 level.USD Index, 1h

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