US Dollar Index has failed to break above 94.00 levels for now. It might be unfolding as a triangle and drop marginally below 92.52 mark, before resuming higher again. The index might be preparing to rally towards 93.50/60 levels in the immediate future to terminate Wave E of the triangle. A final thrust wave could resume thereafter, which potentially breaks through fresh lows. It would be a much safer trading strategy to buy again after a marginal low is print below 92.52. Meanwhile if 94.00 resistance breaks, it would confirm a low is in place already.
Remain long, stop @ 92.10, 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 @ 92.10, 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.