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US Dollar Index heading towards 94.00 levels in the near term
US dollar Index might have carved a meaningful bottom around 92.52 levels and a break above 94.00 confirms. Even it the index cracks above 93.35, it would be enough to ascertain a bottom is formed. Bulls are looking to break above 98.00 levels over the next several weeks, which is previous Wave 4 of one lesser degree. A larger degree wave structure suggests that US Dollar Index might have completed at 92.52. If that holds well, we should see prices breaking above 98.00 levels in the short term. Good to be on the long side from here on.
Remain long, stop @ 92.20, target is 98.00
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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 @ 92.20, target is 98.00
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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