Dollar Index - Two Paths For Q1 Based On Elliott Wave
Dollar has shown a great volatility in terms of sharp and strong movements in the last few years, this instrument defiantly have a lot to prove to us before we change our long term view from Bearish to Bullish.
Primary Count: Tracking the move from Jul 23 as an incomplete correction, missing one more leg higher towards the 108.28-110.36 area before the next drop occurs.
Alternate Count: Consider the correction as already completed and anticipate a further decline of the US Dollar until the elections later this year.
For next few weeks, we want to be more bullish in any case and see how market will react from 105.00 but let's see...
Primary Count: Tracking the move from Jul 23 as an incomplete correction, missing one more leg higher towards the 108.28-110.36 area before the next drop occurs.
Alternate Count: Consider the correction as already completed and anticipate a further decline of the US Dollar until the elections later this year.
For next few weeks, we want to be more bullish in any case and see how market will react from 105.00 but let's see...
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