US Dollar Index has managed to push through yet another high around 93.89 today, before reversing. The index trades around 93.48 levels for now and might be looking to produce a meaningful corrective drop. Remote probabilities still remain for a drop towards 92.50 levels, the fibonacci 0.618 retracement of the entire rally between 91.75 through 93.89 respectively. Either way, US Dollar Index remains a buy on dips going forward.
Remain long, stop below 91.75 and 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 below 91.75 and 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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