US Dollar Index should resume higher from 94.00 levels, which is fibonacci 0.382 retracement of the recent rally between 92.60 and 94.65 respectively. A drop lower would find support around the 93.40/50 handle and also indicate that US Dollar Index is producing an extended Wave 3 rally going forward. Either way, index is expected to resume its rally either from 94.00 or from 93.40/50 mark. Good to buy on dips from here.
Remain long, stop @ 91.75, 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, stop @ 91.75, 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.