US Dollar Index might be preparing to rally towards 97.50/98.00
US Dollar Index might be ready to push higher towards 97.50 and 98.00 in the immediate future. Unlike its counterpart EURUSD, the US Dollar Index had help above support at 96.24 yesterday. The lower degree wave counts might be suggesting that a 3rd of 3rd wave might be soon underway towards 97.50 and higher. Bottom line remains that the index should stay above 96.24 levels, going further. Larger degree counts suggests that the index might have carved Waves (1) and (2) at 103.00 and 95.70 respectively. If the above counts are correct, US Dollar Index should stay above 95.70 and push towards 103.00 as Wave (3) progresses.
Remain long, stop @ 95.50, target @ 100.56 at least.
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 @ 95.50, target @ 100.56 at least.
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.