US Dollar potential bottom is seen around 92.55
US Dollar Index might have carved a meaningful bottom around 92.55 level already. The lower wave counts could be as follows: The rally between 92.55 and 94.00 as potential Wave 1. The recent drop looks corrective and could be potential Wave 2 around 92.90. If the proposed counts are correct, US Dollar Index will stay above 92.55 and proceed towards 96.50 as Wave 3 progresses. Alternately a break below 92.55 would confirm that US Dollar Index is up for a bearish push further.
Remain long stop @ 92.30 target is @ 96.50
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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 @ 92.30 target is @ 96.50
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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