USD Index Pointing Lower! - Elliott Wave analysis

Hello traders,

Similar to EURUSD, USD index has also been trading within a correction as part of a trend, however of a downtrend. We labelled a high for this correction at the 98.45 area, from where a strong decline started developing. Ideally a new five-wave impulsive move down has now started unfolding. Be aware of temporary pullbacks; wave ii can be next.

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Trade well,

The EW-Forecast team

USD Index, 4h

dx, intra