Elliott Wave Analysis: USD Index Continuing Bearish

USD Index has turned down sharply in the last few weeks and formed a decisive break out of a corrective channel which is an important indication of a completed A)-B)-C) advance from September low. We labeled that move up as a higher degree correction, so based on recent breakdown we think that bears are back and that they can be ready to accelerate lower into red wave 3); to 92.40, then 91.30 while price is below 94.16 level.

USD Index, 4H

dx, 4h

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.

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