US Dollar Index expected to resume rally from 94.00
US Dollar Index should resume higher from 94.00 levels, which is fibonacci 0.382 retracement of the recent rally between 92.60 and 94.65 respectively. A drop lower would find support around the 93.40/50 handle and also indicate that US Dollar Index is producing an extended Wave 3 rally going forward. Either way, index is expected to resume its rally either from 94.00 or from 93.40/50 mark. Good to buy on dips from here.
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.