US Dollar carves a meaningful low at 92.55 levels

US Dollar Index might have carved a meaningful bottom around 92.55 over the last week. The index has followed through by rallying towards 94.00 levels before pulling back lower again. The retracement could be over at today's low around 93.27 levels or the index could complete a Gartley Structure towards 93.00/10 levels. Also note that 93.00/10 is the fibonacci 0.618 retracement of the above rally. Probabilities for a bullish bounce remain high if prices manage to reach there. The index might have carved a lower degree Wave 1 and could be on its way to carve Wave 2 around 93.00/10. Once complete, it should proceed higher towards 96.30 levels.

Remain long stop below 92.55 target is open.