Tuesday, August 27, 2013

Dollar Index - Elliott Wave Update

  1. A possible pattern formation on DI.
  2. The possibility suggests lower DI in coming weeks.
  3. For that we need a clear BD from the B-D TL shown on the chart.
  4. If we do get a break then the first target is in the vicinity of 78 odd levels, and below that we should find support around 76 odd levels.
  5. But the break of the B-D TL is essential.
  6. The only hitch is the current down leg has already taken more time than preceeding up leg, a sign of market with an upward bias.

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