Elliott waves analysis – We’re waiting for a low risk buy positions towards 148.90.

After an impulsive move to the upperside, the US Dollar is now pulling back to the lowerside. As it is right now, the current bearish price rally is the continuation of a correction to the lowerside but should not go below the end of the corrective wave (4). Basically, on this chart, I expect nothing but a possible momentum to the upperside. The idea here is to keep looking for long term buy positions.

The anticipated bullish price rally is the continuation of an impulsive wave (5) upwards and will continue towards 148.90 or even higher.

We’re waiting for a low risk buy positions towards 148.90.