Dollar Index a low risk shorting opportunity (Elliott Wave Analysis) 17th October 2017 onwards

In my last report I suggested shorting the Dollar Index when it was trading around 93.79, ever since then the Dollar Index has been in a continuous down fall making a low for Wave a around 92.80 and moving up for Wave b as a Flat correction till the 61.8% retracement of Wave a.

As of now this market is again offering a good shorting opportunity with a small risk for Wave c down, also the reversal pattern has formed right at the 61.8% retracement giving even more confidence.


Dollar Index shorting opportunity

Dollar Index shorting opportunity


SL : 93.75 (Wave b high)

Target 1: 92.83

Target 2 : 92.27 (Wave a = Wave c)

Also since the Target 2 is in the 50-61.8% retracement region of Wave (1) it is quite likely that the same would be achieved if this analysis turns out to be correct.

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