US Dollar Index might have finally carved an expanded flat Wave 2 correction around 96.24 today. Please note price has turned bullish just above the fibonacci 0.786 retracement at 96.16. The potential wave counts have been adjusted today: The rally between 95.70 and 97.75 as Wave 1, followed by an expanded flat a-b-c as Wave 2, potential termination around 96.24. If the above counts are correct, the US Dollar Index should stay above 95.70 and proceed higher towards 97.80 and 100.50 in the next few weeks. A break above 97.15 would confirm a bullish reversal ahead.
Remain long, Stop @ 95.70, target @ 97.80, 100.50 at least
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 @ 95.70, target @ 97.80, 100.50 at least
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.