US Dollar takes out 93.50 to terminate potential Wave 1

US Dollar Index has pushed through 93.50 resistance, confirming a meaningful bottom in place at 91.75 handle. Also note that a lower degree Wave 1 might be complete from 91.75 through 93.60 mark respectively. If the above holds, the US Dollar Index might be heading lower towards 92.30/50 mark, to produce a similar degree Wave 2. Also note that fibonacci 0.618 retracement of the above rally is seen close to 92.40/50 levels. Probability remains high for a bullish bounce there. Good to buy on dips.

Remain long, stop @ 91.50, target is open.

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