US Dollar Index might be looking to push higher towards 97.80 handle before reversing lower again. The short term wave counts since 100.56 are as follows. Lower degree waves i, ii and iii seem to be in place around 99.00, 100.00 and 95.70 respectively. Since then, EURUSD might been carving wave iv, which could reach fibonacci 0.382 of wave iii towards 97.80 levels. Having said that, wave iv can terminate ahead of 97.80 as well, and reverse towards fresh lows. Either way, high probability remains for US Dollar to turn towards 94.65, going forward. The entire structure continues to remain bearish until prices stay below 100.56 and broadly below 103.00 handle. Also note that US Dollar should ideally stay below 99.00 mark if Wave 3 is unfolding as an impulse.
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.
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.