PNF Analysis of the Dollar Index

While the target remains the 100 level, an appreciation of more than 5%, will follow after an initial correction, as shown in the Elliott Wave Analysis. The news of QE did send ripples through the market, and Dollar's main counterpart, Euro plunged. But as explained this final dip in counterpart currency was at a technical precipice, and it appears for now at least a correction should follow in this index.