Elliott Wave Analysis: USD Index Suggesting More Gains To Follow

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On the 4h chart of USD Index we are observing a nice example of the wave principle in motion, which suggests higher prices in the next few sessions and even days. Notice that index turned lower with three waves, a nice zigzag pattern that shows first signs of a completion near 100.80. As such, bullish continuation can be around the corner.

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USD Index, 4H

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.