US Dollar Index might still be progressing into its corrective drop, which could terminate around 92.30/40 levels. Please note it is also the fibonacci 0.618 retracement of the entire rally between 91.75 and 93.65 respectively. The short term wave structure suggests that Wave 1 is in place around 93.65 and Wave 2 is underway towards 92.30/40 levels respectively. Once complete, Wave 3 should resume higher towards 94.50 and beyond. Good to buy on dips through 92.30/40.
Remain long, add more @ 92.30/40, 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, add more @ 92.30/40, 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.