US Dollar Index needs to clear above 98.00 handle to set free into the buy zone and confirm further upside. Please note that the drop from 103.00 through 95.70 has been corrective until now. Until prices hold above interim support at 95.70, US Dollar Index would remain bullish. At the moment, the index is trading at days' lows at 96.40/45 and it remains to be seen if it can stay above 96.25 lows. Immediate resistance is seen through 97.20, while interim support is around 95.70 respectively. Larger degree wave counts might be suggesting that US Dollar Index has completed its corrective drop from 103.00 around 95.70, and should be on its way towards a new high, going forward.
Strategy:
Long against 95.70, targeting above 103.00
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:
Long against 95.70, targeting above 103.00
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.