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Market Analysis

Home » Technical Analysis » USD Index Moves Impulsive Bullish: Elliott Wave Analysis

USD Index Moves Impulsive Bullish: Elliott Wave Analysis

Posted by ewforecast in Technical Analysis - June 24th, 2015 3:39 pm GMT


Elliott Wave Analysis – USD Index 1h

We have some very clear pattern on the USD Index with higher highs and higher swing lows without overlaps, so it looks like that instrument is making an impulsive rally. But for final confirmation of a bullish turn we want another push up to make wave three an extended wave which is usually the case in impulsive sequence. Based on latest price moves and broken corrective channel to the upside we think that rally can lift prices to around 96.00-96.20 in the short-term.

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