Elliott Wave Technical Analysis: The Dollar Index

The Dollar was standing in the narrow range long time . It started to weaken in July and this movement continues now . 

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I suppose the Dollar index moves in ((ii)) that has been lasting since late October .Next levels are 98.935 and 94.6 .


Day chart

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There are several fundamental reasons which corroborate the forecast noted above. First of all, tightening financial conditions and reducing liquidity. 

M2 is dramatically reducing

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Fed balance

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The Dollar index can continue to decline but in middle-term prospects I wait for it growing


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Disclaimer: My opinion is provided as general market information and do not constitute investment advice

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