US Dollar Index might have carved a higher low yesterday around 96.80, before pulling back higher. The index has dropped from 103.00 highs in 3 waves until now. A break above 98.40 would confirm that the drop was indeed corrective A-B-C and not 1-2-3, as labelled right now. We shall re-label once the price action confirms. If the above count holds, US Dollar Index is set to stay above 94.65 and continue higher towards 103.00. The short term counts are also indicating that a higher low has been carved out around 95.80 mark and US Dollar Index is set up for a huge rally. Overall, bullish against 94.65.
Strategy:
Long against, 94.65, targeting above 100.56 and 103.00
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against, 94.65, targeting above 100.56 and 103.00
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.