The Dollar Index is falling very sharply this week, which we see as an impulsive leg down from 98.40. But despite the strong decline we see the index in the final stages of a corrective move. We are tracking an expanded flat from July 21st that can be near completion. However, another leg down to around 95.70 could follow to make wave v) in (c), before the price will turn sharply to the upside.Â
USD Index 1h Elliott Wave AnalysisÂ
At the same time we are looking at wave four on EURUSD which could rally up to 1.2230/50 today and completes wave C at 138.2% extension of wave B.
EURUSD 1h Elliott Wave Analysis
