US Dollar Index had dropped towards the support zone defined around 92.45/65 yesterday before reversing higher again. This was in line with expectations as fibonacci 0.618 was tested right before a bullish bounce. Ideally the US Dollar should turn higher towards 95.60 levels from here. Bottom line is that 92.15 should stay intact for the above bullish structure to remain valid. A potential Wave 3 might be underway from yesterday's lows around 92.43 mark. Good to buy on dips.
Remain long, stop around 92.10, 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 around 92.10, 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.