WaveTrack International

Elliott Wave Financial Price Forecasting

US$ Index – possible ending diagonal

by m.tamosauskas| May 31, 2013 | No Comments

11_$indx130531

With additional declines during the latter half of last week, the US$ index has significantly raised the probability of downside continuation in the months ahead as it confirmed a reversal signature from the 8449 high. This validates the completion of an ending-contracting diagonal that began at the Sep.’12 low of 7860 and initiates a five wave downswing with measured targets to 7831. Cutting the 8449-7831 range by the golden section, interim downside objectives are measured to 8208.

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