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US Dollar Index might have bottomed at 92.52
US Dollar Index might have formed a bottom at 92.52 today or could be close to forming soon. The index is seen to be trading around 92.95 as we prepare to publish but a break above 94.00 would be required to confirm a bottom in place. The US Dollar Index might be completing a larger degree expanded flat structure and might resume higher towards 98.00 in the near future. Alternately, a drop below 92.52 would be bearish and push prices towards 91.50 handle before finding support again. Having said that. probabilities remain high for a bullish reversal soon.
Remain long, stop @ 92.20, 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 @ 92.20, 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.
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