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2 Jun 2015
USD index pauses for correction – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, sees possibility of a corrective retracement in the USD Index.
Key Quotes
“USD Index has been very bullish for the past two weeks, but bulls slowed down in the last few days, so we suspect that market is forming a new but larger corrective retracement.”
“We adjusted the wave count and labeled end of a first five wave structure at recent high. Ideally that was wave one so current bearish retracement may not last long as we see only temporary set-back for wave two. Ideal support for a pullback comes in around 96.00.”
Key Quotes
“USD Index has been very bullish for the past two weeks, but bulls slowed down in the last few days, so we suspect that market is forming a new but larger corrective retracement.”
“We adjusted the wave count and labeled end of a first five wave structure at recent high. Ideally that was wave one so current bearish retracement may not last long as we see only temporary set-back for wave two. Ideal support for a pullback comes in around 96.00.”