End of 3rd and 4th waves. 4th wave is an ABC formation up trend. Seems like that there is a Head &Shoulders formation for the 4th wave uptrend at 38.2% Fibonacci measured from 2th wave. Currently there is a sharp retraction to the H&S trendline. This Retraction is important. In classical terms signifies continuation of bear trend for the USD Index. We estimate a drop of USD Index to 11740 level, where the 5th wave may complete. This point would be a good position to bet for a long entry.