US Dollar Index might have carved an interim resistance around 94.65 levels. It is seen to be retracing for now and might find support around 94.00 mark, the fibonacci 0.382 retracement of the recent rally between 92.60 and 94.65 respectively. A bullish reversal there would push through 96.00 levels going forward. Also note that probability remains for a push towards 93.50 as well, which is fibonacci 0.618 retracement of the above rally. Either way, US Dollar Index remains good to be bought on dips.
Remain long, stop @ 91.50 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 @ 91.50 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.