US Dollar Index is trading around the 93.10 levels as we prepare this update and it could drop/correct lower towards 92.65 mark before finding support again. The impulse rally between 92.15 and 93.40/50 is being retraced at the moment. The index could reach fibonacci 0.618 retracement of the above rally towards 92.65 before it finds support. It is expected to resume higher towards 94.50 and 98.00 levels thereafter. Good to consider buying on dips.
Remain long, stop @ 92.10, target @ 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 @ 92.10, target @ 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.