Intra-day Elliott Wave Overview: USD Index and EURUSD

0
132
USD Index Elliott Wave 11613
USD Index Elliott Wave 11613

By Elliott Wave Analysis Service | Markets are in risk on mode with higher stocks and lower USD across the board. The powerful move was seen on NZD on strong Employment data q/q (1.2% vs 0.5%). From a bigger picture we think that USD is in bullish mode and that current price action represents just a correction within current trend.

On the chart below we can see a clear powerful and directional move up on USD index which appears to be now in wave four so trend remains up for fifth wave. Support zone is seen at 80.30-80.50.
USD index 1h

USD Index Elliott Wave 11613
USD Index Elliott Wave 11613

With bullish view on USD Index we are still interested in EURUSD shorts (EPO unchanged). On this pair we also see prices moving sideways in wave four which still can reach levels around 1.3540-1.3560 before downtrend resumes.
EURUSD 1h

EURUSD Elliott Wave Analysis 11613
EURUSD Elliott Wave Analysis 11613

Written by www.ew-forecast.com

Special Offer by ew-forecast.com ::  Get 2 Month Package for Price of 1 >> 50% Saving

SHARE
Previous articleA London Bitcoin Conference without a Huge Entrance Fee
Next articlePound got what it wanted
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.