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USD Index Could Make A Corrective Retracement – Elliott Wave

|Includes:ProShares Ultra Semiconductors ETF (USD)

USD remains clearly in a bearish mode across the board while the US bonds and now also US stocks are trading higher. However, current bearish trend of the USD could slow down for few sessions because of five waves down and oversold conditions. As such, traders need to be aware of a corrective rally in three legs.

USD Index 1h

(click to enlarge)

Once USD index will make that three waves up we will be interested to go long on EURUSD with members.

Written by www.ew-forecast.com

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Stocks: USD