US Dollar Index should find support @ 92.40/50
US Dollar Index might be a few pips away from 92.40/50 mark, which is fibonacci 0.618 retracement of the recent rally between 91.75 and 93.65 respectively. The index should be well support around that zone, and bulls would be back in control. Earlier US Dollar Index had rallied from 91.75 through 93.65 taking out resistance at 93.47, potential Wave 1. The index has been carving Wave 2 should terminate around 92.40/50 mark. Once complete, Wave 3 should resume higher towards 94.50/95.00 and beyond.
Remain long, stop at 91.40, target is open.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain long, stop at 91.40, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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