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