Dollar Index at multi-year highs

January 12, 2015 09:13 AM
Elliott Wave Analysis: USD Index


The USD Index is making a pullback as expected, which we think it's a fourth wave after a completed extended black wave 3. As such, we are now tracking wave 4 that can retrace for 38.2% or even back to former wave four before market turns up again. With that said, be aware of another leg-down in the short-term, close to 91.37 from where price could bounce up into wave.

USD Index 4-hour Elliott Wave Analysis


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About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: