tradinglounge.comDOLLAR Elliot Wave Chart 4 hr
24 July 2018 Elliot Wave USD Index can be unfolding a wave D as part of a bigger, complex, sideways pattern located in wave 4). This unfolding pattern is known as a triangle, which can once completed push price into a new bullish continuation, above the 95.70 swing high. Currently we see price making an intra-day rise from the lower triangle line which can be an indication that leg C is completed and D really is in play. If that is the case, a three-wave move can be in play for leg D, before a new turn lower into final leg E of a triangle may follow. If we get a sudden drop below the 94.00 region, then this would tell us that flat pattern is in play rather than a triangle.