US Dollar Index rally that had begun from 91.75 lows early this week, might be looking to push through 93.50 to complete an impulse. This will confirm that bulls are back in control and a meaning low is in place at 91.75. Today we might have the necessary trigger to clear past 93.50, with NFP scheduled. Once a lower degree Wave 1 is in place, we we shall present a potential Wave 2 drop and project an extension. Probabilities remain for a push through fibonacci 0.618 retracement towards 98.75/99.00 levels. Good to buy on dips.
Remain long, 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.
Remain long, 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.