US Dollar Index should find support around 92.45/65
US Dollar Index had taken out resistance at 93.40 as expected, on Friday. Since then, the index has been pulling back and is expected to find support around 92.65 mark. Please note that 92.65 is the fibonacci 0.618 retracement of the recent rally between 92.15 and 93.40/50 respectively. Hence, probabilities remain high for a bullish reversal if prices drop through 92.50/60 mark. Bulls would be inclined to stay in control until prices stay above 92.15 lows, going forward.
Remain long, stop @ 92.00, target @ open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain long, stop @ 92.00, target @ open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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