US Dollar Index has dropped from 103.00 levels through 95.70 in 3 haves until now, hence corrective. The earlier rally towards 103.00 being an impulse, it is a 5-3 pattern until now. Hence probability should remain high for another 5 wave rally that could extend beyond 103.00 going forward. For the above structure to remain intact, US Dollar Index should stay above 95.70 interim lows. Also, the US Dollar Index should break above 97.80 to accelerate further towards 103.00.
Strategy:
Long against 95.70, targeting above 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 95.70, targeting above 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.