Good day everyone.
We have seen a drop of the dollar yesterday as Fed chair sets stage for an interest rate cut. We have seen a nice leg down on USD Index which is still only the first leg a) of a minimum three wave corrective retracement. As such, we can expect more upside on EURUSD during this phase and on other currencies as well, especially commodity currencies.
USD Index, 1h
Here is a nice five up on euro so price should climb higher, while USDCHF may see 0.9800.
Interested in active FX or CRYPTO Elliott Wave labeled charts on a daily basis? Now it's your time; we have a SPECIAL offer; 50% Off on FX and Crypto markets. Check Elliott Wave Forecast website for more details.
By using www.ew-forecast.com website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.ew-forecast.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.