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Chart of the Day:
Dollar Index
Overall View: Looking for a bearish reversal
4 Hour Chart Flows: Long Price Points: 79.50-80.00 Looking for: Top fo a Long wave V)
Momentum: The dollar index went into Long mode in early December and has oscillated up and down since then, but with no real passion to make and hold a momentum break.
Elliott Wave: The dollar index reached new highs recently, which did not influence on our mid-term wave count expectations. It seems that a sub-wave v, of Long impulse wave V), is still searching for a top that may finish the up-trend with an extending structure.
In Elliott wave techniques, a correction is always expected once a five wave move is complete, which means we will look for a lower Usd move once a five wave move from the 76.60 lows finally turns Short.
TheLFB Charting: Dollar Index 4h view
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