US Dollar Index ideally stays above 91.75
US Dollar Index has carved a meaningful bottom around 91.75 levels. Bulls have registered themselves by taking out resistance at 93.50 mark as well. Wave 1 seems to be in place around 93.65 levels and Wave 2 is in progress. It is expected to terminate around fibonacci 0.618 retracement at 92.30/40 zone. Once complete, we should see a sharp rally towards 94.50 and higher levels as Wave 3 progresses. Good to buy on dips from here.
Remain long, add more @ 92.30/40,stop @ 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.
Remain long, add more @ 92.30/40,stop @ 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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