Technical Analysis

Will USD Index Continue Lower, or Will it Reverse Higher?


Good day traders. Hope everybody is having a splendid day.

Today we will look at USD Index and its mid-term view.

USD Index can still be trading within a higher degree bearish impulse, with current rise labeled as a potential wave 4). If that is the case, then rally since start of September can see limited upside near the upper trendline and unfold a drop in five waves for the upcoming wave 5). But if price continues higher, and decisevely breaches above the trendline, then this would suggest a completed bearish impulse and a change in trend from bearish to bullish.

USD Index, Daily

Author: Elliott Wave Financial ServiceWebsite:
Elliott Wave Financial Service
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