Dollar Technical analysis- How to trade dollar pairs
As suggested by us earlier, the dollar index is sizing up for a long term bullish move.
The index has formed a small full elliot wave and is currently undergoing ABC wave.
We construe this full Elliot wave and ABC correction to be 1 & 2 waves of a long-term bullish wave.
Hence traders should hold the line by holding on to the trend line- buy the index as close to trend line, which is a no-brainer trade or buy once a bullish breakout occurs from the ascending triangle.
But, don’t trade the intermediary positions and definitely don’t make a short trade until the trend line is broken. Just trade on the buy cues.
The index has formed a small full elliot wave and is currently undergoing ABC wave.
We construe this full Elliot wave and ABC correction to be 1 & 2 waves of a long-term bullish wave.
Hence traders should hold the line by holding on to the trend line- buy the index as close to trend line, which is a no-brainer trade or buy once a bullish breakout occurs from the ascending triangle.
But, don’t trade the intermediary positions and definitely don’t make a short trade until the trend line is broken. Just trade on the buy cues.