US Dollar Index might be close to hitting resistance after printing highs around 94.59 mark. Bulls seem to remain in control since 91.75 lows and might have carved Waves 1 and 2 around 93.50 and 92.60/70 respectively. If the above is correct, Wave 3 might be underway towards 96.00 and higher. It remains possible for a corrective drop towards 93.40/50 as sub waves within Wave 3 continue to unfold. Good to buy on dips towards 93.40/50.
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.
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