US Dollar Index might be preparing for a push towards 96.00 levels at least. A break above 94.00 would confirm the same and rule out the possibility of a potential triangle underway. The US Dollar Index might have carved a meaningful bottom around 92.52 levels as bulls remain poised to push towards 95.00/96.00 levels. On the flip side though, if 94.00 resistance holds, the triangle count would play out and push prices below 92.52. The drop would be considered to be the final thrust before reversing higher again.
Remain long, stop @ 92.20, 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 @ 92.20, 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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.