Elliott wave: EURUSD Looking Higher, while USD Index Breaching lower

Dovish Fed minutes yesterday send USD down across the board while stocks were mostly sideways, as most of the traders were already way due to Thanksgiving Day in the US and in Japan. US markets are closed!

We have seen a nice push down on USD Index after an A-B-C recovery, which has now room for 92.40. This caused an opposite move on EURUSD.

USD Index, 1H

So far EURUSD looks good as the pair can be making an impulsive rise from 1.1712 which has room for 1.19 and even higher levels based on higher time frame cycles.

EURUSD, 1H

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.


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