Forex analytics and overview
U.S. Dollar Can Correct Higher
2022.12.29 08:39
Markets are still slow this week, but there was some risk-off on US stocks yesterday, which can help climb a bit higher. From an Elliott Wave perspective, we still see the dollar (equal-weighted) trapped in a wave B consolidation which appears like a triangle that can send prices higher into wave C at some point, possibly next week, after the NY holidays.
On today’s schedule, we have , and US may shake the markets a bit, but we do not expect any major breakout. I think markets will be much more volatile and interesting when the USD completes an A-B-C recovery, as shown in the chart below.
