Dollar Index Looks For Correction Within The Uptrend

Published 08/07/2014, 03:57 AM

The US Dollar Index found 81.70 which has been expected as the rally from around 79.90 has unfolded in five waves. We know that after every five waves trend will reverse, either into a new trend or just into a correction. In our case we believe that market is now falling in another fourth wave, but of a higher degree that may find a base around 81.20, but after a three wave fall.

DX Hourly Chart

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