Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Chart of the Day: Dollar Index

TheLFB A Forex Trader Portal

Chart of the Day:

Dollar Index

Prices on the dollar index reached new highs in the past week, after a break through the 78.45 region. Currently, we are looking for the final moves of a red wave I/A leg, which is an impulse wave. Once an impulse wave I/A finds its highs around 79.50 region, traders should look for a  corrective wave II/B reversal, before an up-trend will be able to continue.

TheLFB Charting: Dollar Index daily view 



If you would like to be a part of, to receive a full Elliott wave detail for Usd/Chf, and if you want to know what comes next and what to expect from the market, then join us now.

Follow Elliott Wave charts and updates on twitter.

Disclosure: No positions