US Dollar Index on track to clear 93.50/94.00 hurdle
US Dollar Index bulls are poised to take out 93.50/94.00 resistance before pulling back again. This would confirm a major bottom is in place at 91.70 levels and also further upside as bulls regain control. The indice might have completed an impulse drop from 103.00 through 91.70 levels. A classic Elliott Wave Pattern is 5-3 i.e 5 waves down, followed by 3 waves up in this case. Once 93.50 is taken out, room for further upside would be confirmed and a 3 wave corrective rally would be on its way towards 98.00/99.00 mark.
Remain long, stop @ 91.00, target is open.
Good luck!
Remain long, stop @ 91.00, target is open.
Good luck!
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