US Dollar Index has carved a meaningful bottom around 91.75 levels. Bulls have registered themselves by taking out resistance at 93.50 mark as well. Wave 1 seems to be in place around 93.65 levels and Wave 2 is in progress. It is expected to terminate around fibonacci 0.618 retracement at 92.30/40 zone. Once complete, we should see a sharp rally towards 94.50 and higher levels as Wave 3 progresses. Good to buy on dips from here.
Remain long, add more @ 92.30/40,stop @ 91.40, 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.
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.