US Dollar Index Consolidating Ahead of Wave 3 Drop Towards 94.65
US Dollar Index outlook remains bearish against 103.00 levels in the long run. The indice seems to be consolidating (potential triangle) since earlier drop between 103.00 and 98.27, Wave 1 on chart. It has been producing 3 wave movements since 98.27 lows, raising probabilities of a triangle for Wave 2. Alternately, it could rally towards 101.20 levels carving a flat Wave 2. Either ways, watch out for a bearish reversal after potential triangle consolidation or from 101.20 levels. The US Dollar Index is seen to be dropping towards 94.65 and further as Wave 3 progresses.
Strategy:
Short against 103.00, targeting below 94.65
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 94.65
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.