US Dollar Index remains sell on rallies below 103.00 handle
US Dollar Index has retraced towards 99.50 handle as expected and discussed last week. High probability remains for a major top in place at 103.00 levels earlier, and the index is expected to drop towards 94.00 levels in the short term. The medium term wave counts indicate the following: The US Dollar Index has carved Wave 1 between 103.00 and 98.27 levels. A Wave 2 is either in place around 100.87 (as a flat) or could terminate at 100.00 levels respectively (as a triangle). Either way, US Dollar Index remains vulnerable to reverse lower as Wave 3 unfolds towards 94.00 levels soon.
Strategy:
Short against 103.00, targeting below 94.00
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:
Short against 103.00, targeting below 94.00
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