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HomeContributorsTechnical AnalysisUSD Index Can See More Weakness, Below 96.00

USD Index Can See More Weakness, Below 96.00

Elliott Wave Financial Service
By Elliott Wave Financial Service

USD Index is recovering for the last 48 hours, but nothing significant yet. We see a bearish price action that can cause a lot more damage ahead, especially if current bounce proves to be corrective. The idea is that USD Index is headed south for a big wave C drop as shown on a daily chart(look below). However, it would be nice to see a daily close below 96.00 to confirm a turn.

USD Index, 4h

USD Index, Daily

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
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