empty
 
 
15.11.2017 10:20 AM
Elliott wave analysis of USDX for November 15, 2017

There are a lot of chances that the Dollar index has more upside if the current decline is wave A or wave 2. Today we are going to talk about this scenario and when it gets canceled. However our primary scenario remains the one where the entire upward corrective wave has been completed and we have already started the final leg down towards 88.

This image is no longer relevant

Blue line - support trend line

Red line - projection

The Dollar index has broken the trend line support and is heading towards cloud support at 93. This is also the area of the previous lesser degree fourth wave and high probability target for the pull back to end. Resistance is at 94.35. The downward move could very well be wave B or 2. A wave C or 3 should follow if this scenario is valid.

This image is no longer relevant

As we noted in previous posts, price was getting rejected at the 61.8% Fibonacci retracement. The entire correction could be over and we could already have started the final leg down. If however the correction is not over yet or even if the Dollar index has bottomed in September, there is a good chance this decline finds support soon and reverses upwards for a move towards 96-97. This is a valid scenario and we should keep as a very probable alternative.
Alexandros Yfantis,
Especialista em análise na InstaForex
© 2007-2026
Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $1000 mais!
    Em Junho nós sorteamos $1000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback