We have presented a long term forecast of Dollar Index based on moving averages.
The index is in a downtrend forming a full elliot wave and an ABC correction is due.
It has completed the ‘A’ wave and is currently forming the ‘B’ wave.
We expect the pair to make a minimum 50% retracement which could be a potential reversal zone.
The ‘C’ wave can be an elongated wave and can retrace up to 76% of the original wave.
The index is in a downtrend forming a full elliot wave and an ABC correction is due.
It has completed the ‘A’ wave and is currently forming the ‘B’ wave.
We expect the pair to make a minimum 50% retracement which could be a potential reversal zone.
The ‘C’ wave can be an elongated wave and can retrace up to 76% of the original wave.