US Dollar Index might be heading towards 100.56 and beyond
US Dollar Index had reversed from 96.24 levels yesterday and is looking to rally towards 100.56 at least. Potential wave counts are as follows: The rally between 95.70 and 97.75 as Wave 1; the subsequent expanded flat corrective wave towards 96.24 as Wave 2 and potential Wave 3 is now under way. If the above is correct, US Dollar Index would stay above 96.24 ideally and proceed towards 97.80, 100.56 to terminate Wave 3. Further, the rally from 92.24 until today's high at 96.97 is in 3 waves. A potential Wave 4 might be underway and unfold as a triangle or expanded flat. Once we have 5 waves complete, it would confirm that US Dollar Index has bottomed at 96.24.
Remain ling, stop @ 95.50, target above 100.56.
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 ling, stop @ 95.50, target above 100.56.
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.