Elliott waves analysis – We’re on the sidelines.

During the previous trading day, the US Dollar rallied massively to the upperside and is still showing signs of continuing much higher. On this chart, we are expecting a possible rally much higher as long as the price remains above 133.736. As it is now, we are buyers towards 137.780, and may breakout much higher. On the flipside, a break and a close below 133.736, will push the price to the lowerside towards 131.750 and may breakout much lower. On this chart, stay on the sidelines.

We’re on the sidelines.