US Dollar Index bottom might carve a meaningful bottom around 92.00 levels. Please note that triangle termination is seen around 93.40 mark, and a break higher from here would confirm a potential bottom is in place at 92.15 levels. The larger degree wave structure also suggests a corrective drop (expanded flat) might be nearing completion around 92.00 mark. It might be good to prepare to initiate fresh long positions if prices drop below 92.15 levels.
Remain long, Stop @ 92.10, target is 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 @ 92.10, target is 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.