US Dollar Completes Bearish ABC Within Bullish Correction

November 13, 2017

By Admiral Markets

The US Dollar seems to have completed 3 bearish waves within a larger bullish correction. One more higher high could occur on the USD after which divergence between the tops will most likely appear.

This in turn could create a bearish reversal and send the EUR/USD back up. For the moment, however, EUR/USD and GBP/USD look bearish and could show a bearish breakout if price breaks below support.

Watch the 9 min video here:

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

Many green pips,

Chris Svorcik

Follow @ChrisSvorcik on twitter for latest market updates.
Connect with Chris Svorcik on Facebook for latest Forex and education tips.

Article by Admiral Markets

Source: US Dollar Completes Bearish ABC Within Bullish Correction

Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.