US Dollar Index might have carved interm low around 95.80
US Dollar Index might remain in control of bulls until prices stay above 95.80 levels. We are presenting a potential alternate count, which is US Dollar bullish. Please note the drop between 103.00 and 95.80 is in 3 waves until now, hence corrective. Unless the US Dollar Index breaks below 95.80 and completes a 5 wave structure, a bullish reversal remains possible. In the latter scenario, the index could be poised to push higher towards 103.00 and beyond in the coming weeks. Bottom line: For the above scenario to hold, US Dollar Index must remain above 95.80, going forward. A break above 98.50 would confirm that bulls are in control and would remain poised to push through 103.00 handle.
Strategy:
Take profits on short positions @ 97.15 and remain flat. Aggressive traders might turn bullish against 95.70.
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:
Take profits on short positions @ 97.15 and remain flat. Aggressive traders might turn bullish against 95.70.
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.